Blueknight Energy Partners (NASDAQ:BKEP) Stock Crosses Above 200-Day Moving Average of $3.43

Shares of Blueknight Energy Partners, L.P. (NASDAQ:BKEP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.43 and traded as high as $3.59. Blueknight Energy Partners shares last traded at $3.46, with a volume of 395,730 shares changing hands.

The firm has a market cap of $143.63 million, a price-to-earnings ratio of 3.09 and a beta of 2.34. The business’s 50-day moving average is $3.19 and its 200-day moving average is $3.43.

Blueknight Energy Partners (NASDAQ:BKEP) last issued its earnings results on Tuesday, August 3rd. The pipeline company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $27.76 million for the quarter. Blueknight Energy Partners had a net margin of 43.49% and a negative return on equity of 13.13%.

The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, August 6th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.62%.

Several hedge funds and other institutional investors have recently bought and sold shares of BKEP. Marshall Wace LLP grew its stake in shares of Blueknight Energy Partners by 69.1% in the second quarter. Marshall Wace LLP now owns 251,345 shares of the pipeline company’s stock valued at $950,000 after buying an additional 102,668 shares in the last quarter. Morgan Stanley boosted its position in shares of Blueknight Energy Partners by 43.0% in the second quarter. Morgan Stanley now owns 1,086,201 shares of the pipeline company’s stock valued at $4,105,000 after acquiring an additional 326,441 shares during the period. Blackstone Inc raised its stake in Blueknight Energy Partners by 77.8% in the second quarter. Blackstone Inc now owns 200,536 shares of the pipeline company’s stock valued at $758,000 after purchasing an additional 87,744 shares in the last quarter. LPL Financial LLC raised its stake in Blueknight Energy Partners by 20.3% in the second quarter. LPL Financial LLC now owns 62,300 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Cove Street Capital LLC raised its stake in Blueknight Energy Partners by 420.4% in the second quarter. Cove Street Capital LLC now owns 700,000 shares of the pipeline company’s stock valued at $2,646,000 after purchasing an additional 565,497 shares in the last quarter. Institutional investors own 30.26% of the company’s stock.

Blueknight Energy Partners Company Profile (NASDAQ:BKEP)

BlueKnight Energy Partners LP engages in the operation of independent asphalt facilities. It provides integrated terminalling services for companies engaged in the production, distribution, and handling of liquid asphalt. The company was founded on February 22, 2007 and is headquartered in Tulsa, OK.

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