CBBlueknight, LLC disclosed that they own 33.1% of Blueknight Energy Partners L.P. (NASDAQ:BKEP) in a Form 13D disclosure that was filed with the Securities and Exchange Commission on Tuesday, September 27th. The investor owns 18,312,973 shares of the stock worth $110,610,357. The reporting parties listed on the disclosure included CBBlueknight, LLC, Charlesbank Equity Fund VII, Limited Partnership, Charlesbank Equity Fund VII GP, Limited Partnership and Charlesbank Capital Partners, LLC. The filing is available through the SEC website at this hyperlink.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fic Capital Inc. raised its position in Blueknight Energy Partners L.P. by 250.1% in the second quarter. Fic Capital Inc. now owns 36,675 shares of the company’s stock worth $191,000 after buying an additional 26,200 shares during the period. ING Groep NV bought a new position in Blueknight Energy Partners L.P. during the first quarter worth $212,000. Brown Advisory Inc. bought a new position in Blueknight Energy Partners L.P. during the second quarter worth $391,000. UBS Group AG raised its position in Blueknight Energy Partners L.P. by 7.2% in the first quarter. UBS Group AG now owns 219,512 shares of the company’s stock worth $1,052,000 after buying an additional 14,661 shares during the period. Finally, Royal Bank of Canada raised its position in Blueknight Energy Partners L.P. by 2.6% in the second quarter. Royal Bank of Canada now owns 210,376 shares of the company’s stock worth $1,098,000 after buying an additional 5,376 shares during the period.
Shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) traded down 0.66% during midday trading on Tuesday, hitting $6.04. The stock had a trading volume of 35,025 shares. Blueknight Energy Partners L.P. has a one year low of $3.81 and a one year high of $6.69. The company’s market capitalization is $223.78 million. The firm’s 50-day moving average is $5.84 and its 200 day moving average is $5.41.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) last released its earnings results on Tuesday, August 2nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.24. The firm had revenue of $46.57 million for the quarter, compared to the consensus estimate of $43.86 million. Equities analysts expect that Blueknight Energy Partners L.P. will post ($0.94) earnings per share for the current fiscal year.
BKEP has been the subject of a number of recent analyst reports. SunTrust Banks Inc. upgraded Blueknight Energy Partners L.P. from a “neutral” rating to a “buy” rating and increased their price target for the company from $5.00 to $8.00 in a research report on Friday, July 22nd. Zacks Investment Research upgraded Blueknight Energy Partners L.P. from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.88.
In other news, major shareholder Msd Partners, L.P. sold 320,554 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.80, for a total transaction of $1,859,213.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Blueknight Energy Partners L.P. Company Profile
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