Blueknight Energy Partners LP (NASDAQ:BKEP)’s share price hit a new 52-week low on Tuesday . The company traded as low as $2.30 and last traded at $2.37, with a volume of 12716 shares changing hands. The stock had previously closed at $2.35.

BKEP has been the topic of a number of research reports. ValuEngine raised Blueknight Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research cut Blueknight Energy Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, August 16th. SunTrust Banks set a $3.00 price objective on Blueknight Energy Partners and gave the company a “buy” rating in a report on Sunday, August 5th. Wells Fargo & Co decreased their price objective on Blueknight Energy Partners from $7.00 to $3.00 and set a “market perform” rating on the stock in a report on Monday, June 11th. Finally, Stephens set a $4.00 price objective on Blueknight Energy Partners and gave the company a “buy” rating in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.35.

The firm has a market cap of $84.30 million, a price-to-earnings ratio of -26.39 and a beta of 0.66. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of -1.31.

Blueknight Energy Partners (NASDAQ:BKEP) last announced its quarterly earnings data on Wednesday, August 1st. The pipeline company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $83.49 million for the quarter, compared to analysts’ expectations of $44.86 million. Blueknight Energy Partners had a net margin of 4.51% and a negative return on equity of 4.82%. analysts anticipate that Blueknight Energy Partners LP will post -0.2 EPS for the current year.

In related news, CEO Mark A. Hurley purchased 20,394 shares of Blueknight Energy Partners stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $49,965.30. Following the transaction, the chief executive officer now directly owns 453,066 shares in the company, valued at $1,110,011.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. OppenheimerFunds Inc. grew its position in Blueknight Energy Partners by 2.6% during the 1st quarter. OppenheimerFunds Inc. now owns 2,068,854 shares of the pipeline company’s stock worth $8,792,000 after acquiring an additional 51,900 shares during the last quarter. Summit Trail Advisors LLC grew its position in Blueknight Energy Partners by 285.0% during the 1st quarter. Summit Trail Advisors LLC now owns 116,983 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 86,599 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its position in Blueknight Energy Partners by 33.5% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 1,028,150 shares of the pipeline company’s stock worth $3,496,000 after acquiring an additional 257,963 shares during the last quarter. Finally, Zazove Associates LLC bought a new position in Blueknight Energy Partners during the 2nd quarter worth approximately $1,145,000. Institutional investors and hedge funds own 47.14% of the company’s stock.

Blueknight Energy Partners Company Profile (NASDAQ:BKEP)

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's Asphalt Terminalling Services segment offers asphalt terminalling services, including storage, blending, processing, and throughput services for asphalt product and residual fuel oil.

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