Blueknight Energy Partners (BKEP) Set to Announce Earnings on Wednesday

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Blueknight Energy Partners (NASDAQ:BKEP) is scheduled to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter.

Blueknight Energy Partners (NASDAQ:BKEP) last posted its quarterly earnings data on Monday, March 11th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. Blueknight Energy Partners had a negative return on equity of 4.21% and a negative net margin of 10.93%. The company had revenue of $123.52 million for the quarter. On average, analysts expect Blueknight Energy Partners to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

BKEP stock opened at $1.11 on Friday. Blueknight Energy Partners has a 12-month low of $1.00 and a 12-month high of $4.65. The stock has a market capitalization of $45.19 million, a P/E ratio of -3.83 and a beta of 1.92.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Friday, May 3rd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 14.41%. The ex-dividend date is Thursday, May 2nd. Blueknight Energy Partners’s payout ratio is -110.34%.

A hedge fund recently raised its stake in Blueknight Energy Partners stock. Geode Capital Management LLC raised its position in Blueknight Energy Partners LP (NASDAQ:BKEP) by 115.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,800 shares of the pipeline company’s stock after buying an additional 28,310 shares during the period. Geode Capital Management LLC owned about 0.13% of Blueknight Energy Partners worth $60,000 at the end of the most recent reporting period. 27.61% of the stock is owned by institutional investors and hedge funds.

BKEP has been the topic of several research analyst reports. Zacks Investment Research cut Blueknight Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine cut Blueknight Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Co lowered their price objective on Blueknight Energy Partners from $3.00 to $1.00 and set a “market perform” rating on the stock in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Blueknight Energy Partners has an average rating of “Hold” and an average price target of $2.38.

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About Blueknight Energy Partners

Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company operates through four segments: Asphalt Terminalling Services, Crude Oil Terminalling Services, Crude Oil Pipeline Services, and Crude Oil Trucking Services.

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Earnings History for Blueknight Energy Partners (NASDAQ:BKEP)

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