The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) is a huge mover today! The stock closed at $5.85 during the last session. It is down 22.74% since April 26, 2016 and is uptrending. It has outperformed by 17.48% the S&P500.
The move comes after 9 months positive chart setup for the $213.10 million company. It was reported on Nov, 29 by Barchart.com. We have $6.14 PT which if reached, will make NASDAQ:BKEP worth $10.66M more.
Analysts await Blueknight Energy Partners L.P. (NASDAQ:BKEP) to report earnings on March, 14. They expect $0.01 EPS, down 50.00% or $0.01 from last year’s $0.02 per share. BKEP’s profit will be $364,274 for 146.25 P/E if the $0.01 EPS becomes a reality. After $0.13 actual EPS reported by Blueknight Energy Partners L.P. for the previous quarter, Wall Street now forecasts -92.31% negative EPS growth.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) Ratings Coverage
Out of 6 analysts covering Blueknight Energy (NASDAQ:BKEP), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Blueknight Energy has been the topic of 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Suntrust Robinson given on Friday, July 22. The rating was initiated by Janney Capital with “Neutral” on Thursday, May 19. As per Friday, November 6, the company rating was downgraded by RBC Capital Markets. The company was maintained on Tuesday, August 11 by Barclays Capital. The firm has “Buy” rating by SunTrust given on Friday, July 22. The rating was initiated by DA Davidson on Friday, October 7 with “Buy”.
According to Zacks Investment Research, “Blueknight Energy Partners, L.P., based in Tulsa, Oklahoma, owns and operates a diversified portfolio of complementary midstream energy assets. It provides midstream services to its customers by focusing in three operational areas: crude oil terminalling and storage, crude oil gathering and transportation services and asphalt terminalling, storage and processing services. The Company’s strategically located storage facilities, terminals and pipelines provide customers the flexibility to access multiple receipt and delivery points. Its vision is to use its strategically located assets to be a leading provider of midstream services in the energy industry. It intends to accomplish its objective by: pursuing both strategic and accretive acquisitions within the midstream energy industry, pursuing organic expansion opportunities by constructing additional assets in strategic locations, and expanding storage capacity, particularly at its Cushing terminal, and increasing the profitability of its existing assets.”
Insitutional Activity: The institutional sentiment increased to 1.36 in 2016 Q2. Its up 0.28, from 1.08 in 2016Q1. The ratio is positive, as 3 funds sold all Blueknight Energy Partners L.P. shares owned while 9 reduced positions. 5 funds bought stakes while 8 increased positions. They now own 21.79 million shares or 1.28% less from 22.08 million shares in 2016Q1.
Fic accumulated 0.09% or 36,675 shares. Royal Savings Bank Of Canada, a Ontario – Canada-based fund reported 210,376 shares. Msd Prtnrs Ltd Partnership has invested 1.22% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Terril Brothers Inc has 54,900 shares for 0.13% of their US portfolio. Hite Hedge Asset Limited Co accumulated 0.93% or 436,283 shares. Travelers Inc accumulated 3,019 shares or 0% of the stock. Moreover, Spirit Of America Mgmt Corp has 0.17% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 222,955 shares. Cushing Asset L P owns 3.76M shares or 0.7% of their US portfolio. Neuberger Berman Grp Ltd Liability Company accumulated 5.57M shares or 0.04% of the stock. Renaissance Tech Ltd Limited Liability Company has 0% invested in the company for 17,300 shares. Walleye Trading Ltd Liability Corp has 4,600 shares for 0% of their US portfolio. Glenmede Na has invested 0% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Clearbridge Investments Limited Liability Co last reported 0.02% of its portfolio in the stock. California Pub Employees Retirement System holds 89,764 shares or 0% of its portfolio. Manufacturers Life Company The has 0% invested in the company for 2,116 shares.
Insider Transactions: Since August 24, 2016, the stock had 1 buying transaction, and 1 insider sale for $1.71 million net activity. Another trade for 24,000 shares valued at $153,600 was bought by Lampton William Walter. MSD Partners – L.P. sold 320,554 shares worth $1.86M.
More news for Blueknight Energy Partners L.P. (NASDAQ:BKEP) were recently published by: Marketwatch.com, which released: “Blueknight Energy stock price target raised to $8 from $5 at SunTrust RH” on April 21, 2011. Businesswire.com‘s article titled: “Blueknight Energy Partners Completes Acquisition of Nine Asphalt Terminals …” and published on October 05, 2016 is yet another important article.
BKEP Company Profile
Blueknight Energy Partners, L.P., incorporated on February 22, 2007, is a master limited partnership with activities in over 20 states. The Firm provides integrated terminalling, storage, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt cement and crude oil. The Firm operates in four divisions, namely, asphalt terminalling services, which provides asphalt product and residual fuel terminalling, storage and blending services at its over 40 terminalling and storage facilities located in over 20 states; crude oil terminalling and storage services, which provides crude oil terminalling and storage services at its terminalling and storage facilities located in Oklahoma and Texas; crude oil pipeline services, which owns and operates approximately three pipeline systems, the Mid-Continent system, the East Texas system and Eagle North system, that gather crude oil purchased by its clients and transports it to refiners, to common carrier pipelines, and crude oil trucking and producer field services, which uses its owned and leased tanker trucks to gather crude oil for its clients at remote wellhead locations. The Company’s operating assets are owned by, and its activities are conducted through, its subsidiaries. The Company’s crude oil activities are located primarily in Oklahoma, Kansas and Texas. The Company’s general partner is Blueknight Energy Partners G.P., L.L.C.
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