Blueknight Energy Partners L.P. (BKEP) Now Covered by Analysts at DA Davidson
Analysts at DA Davidson assumed coverage on shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating and a $7.20 price target on the stock. DA Davidson’s price objective indicates a potential upside of 21.21% from the company’s current price.
Several other research firms also recently commented on BKEP. SunTrust Banks Inc. raised shares of Blueknight Energy Partners L.P. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $5.00 to $8.00 in a research note on Friday, July 22nd. Zacks Investment Research upgraded shares of Blueknight Energy Partners L.P. from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $6.94.
Shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) traded up 0.34% on Friday, reaching $5.96. 5,009 shares of the company’s stock traded hands. Blueknight Energy Partners L.P. has a 12-month low of $3.81 and a 12-month high of $6.50. The company’s market cap is $220.81 million. The stock has a 50-day moving average price of $5.88 and a 200-day moving average price of $5.46.
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Blueknight Energy Partners L.P. (NASDAQ:BKEP) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.24. The company earned $46.57 million during the quarter, compared to analysts’ expectations of $43.86 million. Equities research analysts anticipate 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 firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.80, for a total value of $1,859,213.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several hedge funds have recently added to or reduced their stakes in the stock. ING Groep NV purchased a new stake in Blueknight Energy Partners L.P. during the first quarter worth $212,000. HITE Hedge Asset Management LLC boosted 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 in the last quarter. Brown Advisory Inc. purchased a new stake in Blueknight Energy Partners L.P. during the second quarter worth $391,000. Royal Bank of Canada boosted its stake 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 in the last quarter. Finally, Fic Capital Inc. boosted 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 in the last quarter.
About Blueknight Energy Partners L.P.
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