StockNews.com Initiates Coverage on Blueknight Energy Partners (NASDAQ:BKEP)

Equities research analysts at StockNews.com assumed coverage on shares of Blueknight Energy Partners (NASDAQ:BKEPGet Rating) in a research report issued to clients and investors on Sunday. The firm set a “strong-buy” rating on the pipeline company’s stock.

Blueknight Energy Partners Stock Performance

NASDAQ BKEP opened at $4.63 on Friday. The business’s 50-day moving average price is $4.62 and its 200 day moving average price is $4.25. Blueknight Energy Partners has a twelve month low of $3.00 and a twelve month high of $4.68. The company has a market capitalization of $194.01 million, a PE ratio of 22.05 and a beta of 1.55.

Hedge Funds Weigh In On Blueknight Energy Partners

Several large investors have recently added to or reduced their stakes in BKEP. Commonwealth Equity Services LLC purchased a new position in shares of Blueknight Energy Partners in the 2nd quarter worth about $46,000. Walleye Trading LLC purchased a new position in shares of Blueknight Energy Partners in the 2nd quarter worth about $50,000. Virtu Financial LLC purchased a new position in shares of Blueknight Energy Partners in the 1st quarter worth about $80,000. Jane Street Group LLC raised its holdings in shares of Blueknight Energy Partners by 43.3% in the 2nd quarter. Jane Street Group LLC now owns 22,922 shares of the pipeline company’s stock worth $104,000 after purchasing an additional 6,923 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Blueknight Energy Partners by 497.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,036 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 28,343 shares during the period. 33.12% of the stock is currently owned by hedge funds and other institutional investors.

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.

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