Blueknight Energy Partners L.P. to Post FY2016 Earnings of $0.09 Per Share, DA Davidson Forecasts (BKEP)
Blueknight Energy Partners L.P. (NASDAQ:BKEP) – Analysts at DA Davidson issued their FY2016 earnings per share (EPS) estimates for Blueknight Energy Partners L.P. in a report issued on Tuesday. DA Davidson analyst P. Fratt expects that the firm will post earnings of $0.09 per share for the year. DA Davidson has a “Buy” rating and a $7.20 price target on the stock. DA Davidson also issued estimates for Blueknight Energy Partners L.P.’s Q1 2017 earnings at ($0.07) EPS, Q2 2017 earnings at $0.04 EPS, FY2017 earnings at $0.16 EPS, Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at $0.07 EPS and FY2018 earnings at $0.21 EPS.
Several other brokerages also recently weighed in on BKEP. SunTrust Banks Inc. upgraded Blueknight Energy Partners L.P. from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.00 to $8.00 in a research note on Friday, July 22nd. Zacks Investment Research downgraded Blueknight Energy Partners L.P. from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $6.99.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) opened at 6.35 on Thursday. The company’s 50-day moving average price is $6.03 and its 200 day moving average price is $5.68. Blueknight Energy Partners L.P. has a 52-week low of $3.81 and a 52-week high of $6.50. The firm’s market capitalization is $241.26 million.
Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC increased its stake in shares of Blueknight Energy Partners L.P. by 1.9% in the third quarter. Neuberger Berman Group LLC now owns 5,680,605 shares of the company’s stock worth $34,595,000 after buying an additional 107,323 shares in the last quarter. 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. UBS Group AG increased its position 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 during the period. 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. Finally, Brown Advisory Inc. bought a new position in Blueknight Energy Partners L.P. during the second quarter valued at approximately $391,000.
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 that occurred on Thursday, August 25th. The stock was sold at an average price of $5.80, for a total value of $1,859,213.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were given a $0.145 dividend. The ex-dividend date was Wednesday, November 2nd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 9.13%.
Blueknight Energy Partners L.P. Company Profile
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