DA Davidson began coverage on shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) in a research report report published on Friday. The brokerage issued a buy rating and a $7.20 price target on the stock.
BKEP has been the subject of several other research reports. Zacks Investment Research downgraded shares of Blueknight Energy Partners L.P. from a hold rating to a sell rating in a report on Wednesday, July 6th. SunTrust Banks Inc. raised shares of Blueknight Energy Partners L.P. from a neutral rating to a buy rating and increased their price objective for the company from $5.00 to $8.00 in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Blueknight Energy Partners L.P. currently has a consensus rating of Hold and an average target price of $6.94.
Shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) opened at 6.01 on Friday. Blueknight Energy Partners L.P. has a 1-year low of $3.81 and a 1-year high of $6.50. The company’s market capitalization is $222.66 million. The company has a 50 day moving average price of $5.90 and a 200 day moving average price of $5.48.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.24. The company had revenue of $46.57 million for the quarter, compared to the consensus estimate of $43.86 million. Equities analysts predict that Blueknight Energy Partners L.P. will post ($0.94) EPS for the current fiscal year.
In other news, major shareholder Msd Partners, L.P. sold 320,554 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.80, for a total transaction of $1,859,213.20. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Hedge funds have recently bought and sold shares of the company. HITE Hedge Asset Management LLC raised its stake in Blueknight Energy Partners L.P. by 119.0% in the second quarter. HITE Hedge Asset Management LLC now owns 436,283 shares of the company’s stock worth $2,277,000 after buying an additional 237,075 shares during the period. Brown Advisory Inc. purchased a new stake in Blueknight Energy Partners L.P. during the second quarter worth $391,000. ING Groep NV purchased a new stake in Blueknight Energy Partners L.P. during the first quarter worth $212,000. Fic Capital Inc. raised its stake 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. Finally, UBS Group AG raised its stake 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.
About Blueknight Energy Partners L.P.
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