ValuEngine cut shares of Blueknight Energy Partners (NASDAQ:BKEP) from a hold rating to a sell rating in a report released on Friday morning.
A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Blueknight Energy Partners from a hold rating to a sell rating in a research report on Monday, January 15th. Royal Bank of Canada reissued a hold rating and issued a $6.00 price objective on shares of Blueknight Energy Partners in a research report on Friday, December 8th. Finally, SunTrust Banks set a $8.00 price objective on shares of Blueknight Energy Partners and gave the company a buy rating in a research report on Tuesday, October 31st.
Blueknight Energy Partners (NASDAQ:BKEP) opened at $5.05 on Friday. Blueknight Energy Partners has a 12-month low of $4.65 and a 12-month high of $7.35. The company has a market cap of $204.60, a PE ratio of -28.05 and a beta of 0.70. The company has a debt-to-equity ratio of -1.22, a current ratio of 0.87 and a quick ratio of 0.87.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 11.49%. The ex-dividend date of this dividend is Thursday, February 1st. Blueknight Energy Partners’s payout ratio is -322.20%.
In other Blueknight Energy Partners news, Director Robert Howard Lampton acquired 26,835 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $5.04 per share, for a total transaction of $135,248.40. Following the purchase, the director now directly owns 130,000 shares of the company’s stock, valued at $655,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Msd Partners, L.P. sold 170,212 shares of Blueknight Energy Partners stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $5.06, for a total transaction of $861,272.72. The disclosure for this sale can be found here. Insiders have sold a total of 3,546,896 shares of company stock valued at $18,305,570 in the last ninety days. 1.70% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Blueknight Energy Partners stock. Spirit of America Management Corp NY boosted its holdings in Blueknight Energy Partners L.P. (NASDAQ:BKEP) by 13.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,655 shares of the pipeline company’s stock after purchasing an additional 29,700 shares during the quarter. Spirit of America Management Corp NY owned 0.66% of Blueknight Energy Partners worth $1,289,000 at the end of the most recent reporting period. 56.50% of the stock is currently owned by institutional investors and hedge funds.
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Blueknight Energy Partners Company Profile
Blueknight Energy Partners, L.P. is a master limited partnership company. The Company manages its operations through four segments: asphalt terminaling services, crude oil terminaling and storage services, crude oil pipeline services, and crude oil trucking and producer field services. Asphalt terminaling services segment operations generally consist of fee based activities associated with providing storage, terminaling and throughput services for asphalt product and residual fuel oil.
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