Blueknight Energy Partners, L.P. (NASDAQ:BKEP – Get Rating) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 73,800 shares, a drop of 38.9% from the April 30th total of 120,700 shares. Based on an average daily volume of 268,500 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.
A number of hedge funds have recently bought and sold shares of BKEP. Zazove Associates LLC bought a new position in Blueknight Energy Partners during the 1st quarter worth $8,025,000. Goldman Sachs Group Inc. bought a new position in Blueknight Energy Partners during the 4th quarter worth $2,542,000. Morgan Stanley increased its position in Blueknight Energy Partners by 43.0% during the 2nd quarter. Morgan Stanley now owns 1,086,201 shares of the pipeline company’s stock worth $4,105,000 after buying an additional 326,441 shares during the period. Cove Street Capital LLC increased its position in shares of Blueknight Energy Partners by 16.4% in the first quarter. Cove Street Capital LLC now owns 962,854 shares of the pipeline company’s stock worth $3,216,000 after purchasing an additional 136,000 shares during the period. Finally, LPL Financial LLC raised its stake in Blueknight Energy Partners by 102.9% in the third quarter. LPL Financial LLC now owns 126,400 shares of the pipeline company’s stock valued at $386,000 after purchasing an additional 64,100 shares in the last quarter. Hedge funds and other institutional investors own 33.12% of the company’s stock.
Separately, StockNews.com raised Blueknight Energy Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 21st.
Blueknight Energy Partners (NASDAQ:BKEP – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.01 earnings per share for the quarter. The firm 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Thursday, May 5th. Blueknight Energy Partners’s payout ratio is 73.91%.
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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