Insider Buying: Blueknight Energy Partners L.P. (BKEP) Director Buys 26,835 Shares of Stock
Blueknight Energy Partners L.P. (NASDAQ:BKEP) Director Robert Howard Lampton purchased 26,835 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average cost of $5.04 per share, with a total value of $135,248.40. Following the purchase, the director now owns 130,000 shares of the company’s stock, valued at approximately $655,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Blueknight Energy Partners L.P. (BKEP) traded down $0.05 during mid-day trading on Thursday, reaching $5.05. The company had a trading volume of 227,020 shares, compared to its average volume of 59,516. Blueknight Energy Partners L.P. has a fifty-two week low of $4.86 and a fifty-two week high of $7.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of -1.22.
Blueknight Energy Partners (NASDAQ:BKEP) last announced its earnings results on Tuesday, October 31st. The pipeline company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.08). Blueknight Energy Partners had a net margin of 11.78% and a negative return on equity of 10.32%. The firm had revenue of $47.47 million for the quarter, compared to the consensus estimate of $52.01 million. sell-side analysts predict that Blueknight Energy Partners L.P. will post 0.05 EPS for the current fiscal year.
An institutional investor recently raised its position in Blueknight Energy Partners stock. Renaissance Technologies LLC boosted its position in shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,094 shares of the pipeline company’s stock after buying an additional 24,655 shares during the quarter. Renaissance Technologies LLC owned 0.35% of Blueknight Energy Partners worth $892,000 at the end of the most recent quarter. 56.45% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. SunTrust Banks set a $8.00 target price on Blueknight Energy Partners and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised Blueknight Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th.
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Blueknight Energy Partners Company Profile
Blueknight Energy Partners, L.P. is a master limited partnership company. The Company manages its operations through four segments: asphalt terminaling services, crude oil terminaling and storage services, crude oil pipeline services, and crude oil trucking and producer field services. Asphalt terminaling services segment operations generally consist of fee based activities associated with providing storage, terminaling and throughput services for asphalt product and residual fuel oil.
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