Blueknight Energy Partners L.P. (BKEP) Now Covered by Analysts at DA Davidson
Equities research analysts at DA Davidson began coverage on shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) in a note issued to investors on Friday. The firm set a “buy” rating and a $7.20 price target on the stock. DA Davidson’s target price indicates a potential upside of 21.21% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Blueknight Energy Partners L.P. from a “hold” rating to a “sell” rating in a research 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 upped their target price for the company from $5.00 to $8.00 in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.94.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) traded up 0.34% on Friday, reaching $5.96. 5,009 shares of the company’s stock were exchanged. Blueknight Energy Partners L.P. has a one year low of $3.81 and a one year high of $6.50. The firm has a 50 day moving average of $5.88 and a 200-day moving average of $5.46. The stock’s market cap is $220.81 million.
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Blueknight Energy Partners L.P. (NASDAQ:BKEP) last released its earnings results on Tuesday, August 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.24. The business had revenue of $46.57 million for the quarter, compared to analysts’ expectations of $43.86 million. Equities research analysts forecast 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 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 at this link.
Hedge funds have recently modified their holdings 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 last quarter. 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 last quarter. Royal Bank of Canada raised 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 during the last quarter. Brown Advisory Inc. purchased a new stake in Blueknight Energy Partners L.P. during the second quarter worth $391,000. Finally, ING Groep NV purchased a new stake in Blueknight Energy Partners L.P. during the first quarter worth $212,000.
Blueknight Energy Partners L.P. Company Profile
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