Analysts Set Blueknight Energy Partners LP (BKEP) PT at $4.00

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Blueknight Energy Partners LP (NASDAQ:BKEP) has been given a consensus rating of “Hold” by the seven analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $4.00.

Several equities analysts have commented on the stock. SunTrust Banks set a $3.00 target price on shares of Blueknight Energy Partners and gave the stock a “buy” rating in a research report on Sunday, August 5th. Stephens set a $4.00 target price on shares of Blueknight Energy Partners and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Blueknight Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday.

BKEP stock traded up $0.02 during mid-day trading on Friday, reaching $2.19. 15,038 shares of the company traded hands, compared to its average volume of 186,638. The company has a market capitalization of $73.76 million, a P/E ratio of -24.32 and a beta of 0.69. The company has a debt-to-equity ratio of -1.31, a quick ratio of 0.98 and a current ratio of 0.98. Blueknight Energy Partners has a fifty-two week low of $2.09 and a fifty-two week high of $5.95.

Blueknight Energy Partners (NASDAQ:BKEP) last released its quarterly earnings results on Wednesday, August 1st. The pipeline company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $83.49 million for the quarter, compared to analyst estimates of $44.86 million. Blueknight Energy Partners had a net margin of 4.51% and a negative return on equity of 4.82%. As a group, sell-side analysts forecast that Blueknight Energy Partners will post -0.2 earnings per share for the current fiscal year.

In related news, CEO Mark A. Hurley purchased 20,394 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average price of $2.45 per share, with a total value of $49,965.30. Following the acquisition, the chief executive officer now owns 453,066 shares of the company’s stock, valued at approximately $1,110,011.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. raised its holdings in shares of Blueknight Energy Partners by 4.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,171,111 shares of the pipeline company’s stock worth $7,382,000 after purchasing an additional 102,257 shares during the period. Prescott Group Capital Management L.L.C. raised its holdings in shares of Blueknight Energy Partners by 33.5% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 1,028,150 shares of the pipeline company’s stock worth $3,496,000 after purchasing an additional 257,963 shares during the period. Zazove Associates LLC bought a new stake in shares of Blueknight Energy Partners in the 2nd quarter worth approximately $1,145,000. Finally, Summit Trail Advisors LLC raised its holdings in shares of Blueknight Energy Partners by 285.0% in the 1st quarter. Summit Trail Advisors LLC now owns 116,983 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 86,599 shares during the period. 47.14% of the stock is currently owned by institutional investors.

Blueknight Energy Partners Company Profile

Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company's Asphalt Terminalling Services segment offers asphalt terminalling services, including storage, blending, processing, and throughput services for asphalt product and residual fuel oil.

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