Blueknight Energy Partners (NASDAQ:BKEP) Share Price Passes Above 200 Day Moving Average of $3.74

Blueknight Energy Partners, L.P. (NASDAQ:BKEPGet Rating)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

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

The firm has a market cap of $188.36 million, a PE ratio of 19.57 and a beta of 1.71. The firm’s 50-day moving average price is $4.39 and its two-hundred day moving average price is $3.74.

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

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

Several large investors have recently modified their holdings of the company. AE Wealth Management LLC purchased a new stake in Blueknight Energy Partners in the 4th quarter valued at $46,000. National Asset Management Inc. acquired a new position in shares of Blueknight Energy Partners during the 3rd quarter worth $62,000. Virtu Financial LLC acquired a new position in shares of Blueknight Energy Partners during the 1st quarter worth $80,000. UBS Group AG grew its stake in Blueknight Energy Partners by 9.8% in the 1st quarter. UBS Group AG now owns 47,167 shares of the pipeline company’s stock valued at $157,000 after acquiring an additional 4,226 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Blueknight Energy Partners by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 897,565 shares of the pipeline company’s stock valued at $2,998,000 after acquiring an additional 62,878 shares during the last quarter. Institutional investors and hedge funds own 33.12% of the company’s stock.

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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