Blueknight Energy Partners (NASDAQ:BKEP) Stock Rating Lowered by StockNews.com

Blueknight Energy Partners (NASDAQ:BKEP – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Blueknight Energy Partners Trading Down 0.2 %

Shares of Blueknight Energy Partners stock traded down $0.01 during trading on Friday, hitting $4.63. 59,188 shares of the stock traded hands, compared to its average volume of 202,530. The firm has a market cap of $194.01 million, a P/E ratio of 22.05 and a beta of 1.55. Blueknight Energy Partners has a 52-week low of $3.00 and a 52-week high of $4.68. The stock’s fifty day simple moving average is $4.56 and its 200 day simple moving average is $4.03.

Blueknight Energy Partners (NASDAQ:BKEP – Get Rating) last posted its earnings results on Wednesday, May 4th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter. Blueknight Energy Partners had a negative return on equity of 14.26% and a net margin of 29.17%. The company had revenue of $28.46 million for the quarter.

Institutional Investors Weigh In On Blueknight Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new stake in shares of Blueknight Energy Partners during the second quarter worth about $46,000. Virtu Financial LLC acquired a new stake in shares of Blueknight Energy Partners during the first quarter worth about $80,000. UBS Group AG lifted its holdings 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 worth $157,000 after purchasing an additional 4,226 shares during the period. Cowen AND Company LLC acquired a new stake in shares of Blueknight Energy Partners during the second quarter worth about $2,486,000. Finally, JPMorgan Chase & Co. lifted its holdings 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 worth $2,998,000 after purchasing an additional 62,878 shares during the period. Institutional investors and hedge funds own 33.12% of the company’s stock.

Blueknight Energy Partners Company Profile

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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.