ValuEngine downgraded shares of Blueknight Energy Partners (NASDAQ:BKEP) from a hold rating to a sell rating in a research note issued to investors on Friday morning.
BKEP has been the topic of several other reports. Zacks Investment Research lowered shares of Blueknight Energy Partners from a hold rating to a sell rating in a research report on Monday, January 15th. Royal Bank of Canada reiterated a hold rating and issued a $6.00 price objective on shares of Blueknight Energy Partners in a research report on Friday, December 8th. Finally, SunTrust Banks set a $8.00 price objective on shares of Blueknight Energy Partners and gave the stock a buy rating in a research report on Tuesday, October 31st.
Shares of Blueknight Energy Partners (BKEP) opened at $5.35 on Friday. The company has a market cap of $204.60, a price-to-earnings ratio of -29.72 and a beta of 0.70. Blueknight Energy Partners has a 1 year low of $4.65 and a 1 year high of $7.35. The company has a debt-to-equity ratio of -1.22, a quick ratio of 0.87 and a current ratio of 0.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Friday, February 2nd will be given a $0.145 dividend. The ex-dividend date is Thursday, February 1st. This represents a $0.58 annualized dividend and a dividend yield of 10.84%. Blueknight Energy Partners’s dividend payout ratio is presently -322.20%.
In related news, major shareholder Msd Partners, L.P. sold 3,073,951 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $5.17, for a total value of $15,892,326.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Alex G. Stallings sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $5.60, for a total transaction of $44,800.00. Following the completion of the sale, the chief financial officer now owns 157,224 shares in the company, valued at $880,454.40. The disclosure for this sale can be found here. Insiders sold a total of 3,554,896 shares of company stock worth $18,350,370 over the last quarter. Insiders own 1.70% of the company’s stock.
A hedge fund recently raised its stake in Blueknight Energy Partners stock. Spirit of America Management Corp NY increased its holdings in Blueknight Energy Partners L.P. (NASDAQ:BKEP) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,655 shares of the pipeline company’s stock after buying an additional 29,700 shares during the period. Spirit of America Management Corp NY owned about 0.66% of Blueknight Energy Partners worth $1,289,000 as of its most recent SEC filing. Institutional investors and hedge funds own 56.50% of the company’s stock.
About Blueknight Energy Partners
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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