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

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Blueknight Energy Partners L.P. from a buy rating to a hold rating in a research report on Monday, August 8th. SunTrust Banks Inc. upgraded shares of Blueknight Energy Partners L.P. from a neutral rating to a buy rating and upped their price objective for the stock from $5.00 to $8.00 in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $6.94.

Blueknight Energy Partners L.P. (NASDAQ:BKEP) traded up 1.53% during trading on Friday, reaching $5.99. 37,589 shares of the company were exchanged. The stock has a 50 day moving average price of $5.89 and a 200 day moving average price of $5.47. The firm’s market capitalization is $221.92 million. Blueknight Energy Partners L.P. has a 12 month low of $3.81 and a 12 month high of $6.50.

Blueknight Energy Partners L.P. (NASDAQ:BKEP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.24. The firm had revenue of $46.57 million for the quarter, compared to analysts’ expectations of $43.86 million. On average, analysts expect that Blueknight Energy Partners L.P. will post ($0.94) EPS for the current fiscal year.

In other Blueknight Energy Partners L.P. news, major shareholder Msd Partners, L.P. sold 320,554 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $5.80, for a total transaction of $1,859,213.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

A number of institutional investors have recently bought and sold shares of BKEP. Royal Bank of Canada increased its position in 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 valued at $1,098,000 after buying an additional 5,376 shares during the period. Fic Capital Inc. increased its position in 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 valued at $191,000 after buying an additional 26,200 shares during the period. Brown Advisory Inc. acquired a new position in Blueknight Energy Partners L.P. during the second quarter valued at $391,000. HITE Hedge Asset Management LLC increased its position in Blueknight Energy Partners L.P. by 119.0% in the second quarter. HITE Hedge Asset Management LLC now owns 436,283 shares of the company’s stock valued at $2,277,000 after buying an additional 237,075 shares during the period. Finally, UBS Group AG boosted its stake in 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 valued at $1,052,000 after buying an additional 14,661 shares in the last quarter.

About Blueknight Energy Partners L.P.

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