Short Interest in Blueknight Energy Partners, L.P. (NASDAQ:BKEP) Grows By 19.1%

Blueknight Energy Partners, L.P. (NASDAQ:BKEPGet Rating) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 106,000 shares, a growth of 19.1% from the March 31st total of 89,000 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 170,400 shares, the days-to-cover ratio is presently 0.6 days.

NASDAQ:BKEP opened at $4.56 on Wednesday. The stock’s fifty day moving average price is $3.53 and its two-hundred day moving average price is $3.44. Blueknight Energy Partners has a 52-week low of $3.00 and a 52-week high of $4.60. The company has a market cap of $190.66 million, a price-to-earnings ratio of 2.32 and a beta of 1.70.

Blueknight Energy Partners (NASDAQ:BKEPGet Rating) last posted its quarterly earnings data on Tuesday, March 8th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter. Blueknight Energy Partners had a negative return on equity of 14.22% and a net margin of 95.77%. The firm had revenue of $30.24 million for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be issued a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, May 5th. Blueknight Energy Partners’s dividend payout ratio is 8.67%.

Separately, StockNews.com initiated coverage on Blueknight Energy Partners in a report on Wednesday, April 27th. They set a “strong-buy” rating on the stock.

Several hedge funds have recently bought and sold shares of BKEP. Morgan Stanley lifted its stake in shares of Blueknight Energy Partners by 43.0% in the 2nd quarter. Morgan Stanley now owns 1,086,201 shares of the pipeline company’s stock valued at $4,105,000 after purchasing an additional 326,441 shares during the period. Citigroup Inc. lifted its stake in shares of Blueknight Energy Partners by 54.5% in the 3rd quarter. Citigroup Inc. now owns 87,997 shares of the pipeline company’s stock valued at $268,000 after purchasing an additional 31,041 shares during the period. DG Capital Management LLC lifted its stake in shares of Blueknight Energy Partners by 6.7% in the 3rd quarter. DG Capital Management LLC now owns 3,191,778 shares of the pipeline company’s stock valued at $9,735,000 after purchasing an additional 201,758 shares during the period. Geode Capital Management LLC lifted its stake in shares of Blueknight Energy Partners by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 36,546 shares of the pipeline company’s stock valued at $111,000 after purchasing an additional 4,896 shares during the period. Finally, Cove Street Capital LLC lifted its stake in shares of Blueknight Energy Partners by 9.0% in the 3rd quarter. Cove Street Capital LLC now owns 762,672 shares of the pipeline company’s stock valued at $2,326,000 after purchasing an additional 62,672 shares during the period. 33.12% of the stock is currently owned by institutional investors.

About Blueknight Energy Partners (Get Rating)

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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