The Blueknight Energy Partners L.P. (BKEP) Earns Buy Rating from Analysts at DA Davidson

The Blueknight Energy Partners L.P. (BKEP) Earns Buy Rating from Analysts at DA Davidson

DA Davidson began coverage on shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) in a report issued on Friday. The firm issued a buy rating and a $7.20 price target on the stock.

Several other brokerages have also recently commented on BKEP. SunTrust Banks Inc. raised Blueknight Energy Partners L.P. from a neutral rating to a buy rating and raised their target price for the stock from $5.00 to $8.00 in a research report on Friday, July 22nd. Zacks Investment Research raised Blueknight Energy Partners L.P. from a hold rating to a buy rating and set a $6.50 price objective for the company in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Blueknight Energy Partners L.P. has a consensus rating of Hold and a consensus price target of $6.94.

Shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) opened at 6.03 on Friday. The firm’s 50-day moving average price is $5.90 and its 200 day moving average price is $5.49. The firm’s market capitalization is $223.41 million. Blueknight Energy Partners L.P. has a 52 week low of $3.81 and a 52 week high of $6.50.

Blueknight Energy Partners L.P. (NASDAQ:BKEP) last issued its 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 business earned $46.57 million during the quarter, compared to analyst estimates of $43.86 million. On average, analysts anticipate that Blueknight Energy Partners L.P. will post ($0.94) EPS for the current year.

In related news, major shareholder Msd Partners, L.P. sold 320,554 shares of Blueknight Energy Partners L.P. stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.80, for a total transaction of $1,859,213.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of 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. UBS Group AG boosted its stake in shares of 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 in the last quarter. Fic Capital Inc. boosted its stake in shares of 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. ING Groep NV bought a new stake in shares of Blueknight Energy Partners L.P. during the first quarter worth $212,000. Finally, Brown Advisory Inc. bought a new stake in shares of Blueknight Energy Partners L.P. during the second quarter worth $391,000.

Blueknight Energy Partners L.P. Company Profile

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