Blueknight Energy Partners LP (NASDAQ:BKEP) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 197,200 shares, a decline of 27.1% from the July 31st total of 270,400 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 143,900 shares, the days-to-cover ratio is currently 1.4 days.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Blueknight Energy Partners by 115.6% during the 4th quarter. Geode Capital Management LLC now owns 52,800 shares of the pipeline company’s stock worth $60,000 after purchasing an additional 28,310 shares in the last quarter. Deutsche Bank AG acquired a new stake in Blueknight Energy Partners during the 4th quarter worth approximately $312,000. RBF Capital LLC acquired a new stake in Blueknight Energy Partners during the 2nd quarter worth approximately $29,000. Zazove Associates LLC increased its position in Blueknight Energy Partners by 13.6% during the 2nd quarter. Zazove Associates LLC now owns 2,190,979 shares of the pipeline company’s stock worth $2,542,000 after purchasing an additional 261,582 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Blueknight Energy Partners during the 2nd quarter worth approximately $2,483,000. 20.40% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on BKEP shares. ValuEngine raised shares of Blueknight Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Blueknight Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

Shares of NASDAQ BKEP traded down $0.03 on Friday, reaching $1.17. 151,159 shares of the company traded hands, compared to its average volume of 121,278. Blueknight Energy Partners has a fifty-two week low of $1.00 and a fifty-two week high of $2.50. The company has a 50 day moving average of $1.28 and a 200 day moving average of $1.20. The stock has a market capitalization of $48.56 million, a PE ratio of -4.03 and a beta of 1.84.

Blueknight Energy Partners (NASDAQ:BKEP) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. Blueknight Energy Partners had a negative net margin of 9.26% and a negative return on equity of 4.51%. The company had revenue of $94.08 million during the quarter. As a group, analysts anticipate that Blueknight Energy Partners will post -0.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date of this dividend was Thursday, August 1st. Blueknight Energy Partners’s dividend payout ratio is currently -55.17%.

Blueknight Energy Partners Company Profile

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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