Blueknight Energy Partners (NASDAQ:BKEP) Shares Pass Above 200-Day Moving Average of $3.74

Blueknight Energy Partners, L.P. (NASDAQ:BKEP – Get Rating)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.74 and traded as high as $4.51. Blueknight Energy Partners shares last traded at $4.50, with a volume of 148,487 shares changing hands.

Separately, StockNews.com upgraded Blueknight Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 21st.

The company has a fifty day moving average of $4.39 and a two-hundred day moving average of $3.74. The stock has a market capitalization of $188.36 million, a price-to-earnings ratio of 19.57 and a beta of 1.71.

Blueknight Energy Partners (NASDAQ:BKEP – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.01 EPS for the quarter. The company had revenue of $28.46 million for the quarter. Blueknight Energy Partners had a negative return on equity of 14.50% and a net margin of 30.41%.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were given a $0.0425 dividend. This represents a $0.17 annualized dividend and a yield of 3.78%. The ex-dividend date was Thursday, May 5th. Blueknight Energy Partners’s dividend payout ratio is currently 73.91%.

Hedge funds and other institutional investors have recently modified their holdings of the business. AE Wealth Management LLC bought a new position in Blueknight Energy Partners in the 4th quarter worth approximately $46,000. National Asset Management Inc. bought a new stake in shares of Blueknight Energy Partners during the third quarter valued at approximately $62,000. Virtu Financial LLC bought a new stake in shares of Blueknight Energy Partners during the first quarter valued at approximately $80,000. UBS Group AG increased its position in shares of Blueknight Energy Partners by 9.8% during the first quarter. UBS Group AG now owns 47,167 shares of the pipeline company’s stock valued at $157,000 after purchasing an additional 4,226 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Blueknight Energy Partners by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 897,565 shares of the pipeline company’s stock valued at $2,998,000 after purchasing an additional 62,878 shares during the period. 33.12% of the stock is currently owned by institutional investors.

About Blueknight Energy Partners (NASDAQ:BKEP)

Blueknight Energy Partners, L.P. provides integrated terminalling services for companies engaged in the production, distribution, and handling of liquid asphalt in the United States. As of March 1, 2022, it had 54 terminals located in 26 states. Blueknight Energy Partners G.P., LLC operates as a general partner of Blueknight Energy Partners, L.P.

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