$49.33 Million in Sales Expected for Blueknight Energy Partners L.P. (BKEP) This Quarter

$49.33 Million in Sales Expected for Blueknight Energy Partners L.P. (BKEP) This Quarter

Equities research analysts predict that Blueknight Energy Partners L.P. (NASDAQ:BKEP) will report $49.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Blueknight Energy Partners L.P.’s earnings, with the highest sales estimate coming in at $50.25 million and the lowest estimate coming in at $48.4 million. Blueknight Energy Partners L.P. reported sales of $43.43 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The business is expected to issue its next earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Blueknight Energy Partners L.P. will report full year sales of $49.33 million for the current year, with estimates ranging from $188 million to $205.65 million. For the next fiscal year, analysts forecast that the business will post sales of $209.58 million per share, with estimates ranging from $197 million to $221 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Blueknight Energy Partners L.P..

Blueknight Energy Partners L.P. (NASDAQ:BKEP) last issued its quarterly earnings data on Wednesday, May 3rd. The pipeline company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $46.34 million for the quarter, compared to the consensus estimate of $46.75 million. Blueknight Energy Partners L.P. had a negative return on equity of 15.87% and a negative net margin of 13.49%.

Separately, Zacks Investment Research lowered Blueknight Energy Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.36.

Shares of Blueknight Energy Partners L.P. (NASDAQ:BKEP) remained flat at $6.75 on Wednesday. The company’s stock had a trading volume of 58,358 shares. Blueknight Energy Partners L.P. has a 1-year low of $4.79 and a 1-year high of $7.55. The company’s market capitalization is $257.55 million. The company’s 50 day moving average price is $6.82 and its 200-day moving average price is $6.76.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, May 5th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 8.59%. Blueknight Energy Partners L.P.’s dividend payout ratio (DPR) is -42.34%.

Hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance purchased a new stake in shares of Blueknight Energy Partners L.P. during the fourth quarter worth approximately $110,000. Wells Fargo & Company MN raised its stake in shares of Blueknight Energy Partners L.P. by 28.5% in the third quarter. Wells Fargo & Company MN now owns 22,289 shares of the pipeline company’s stock worth $135,000 after buying an additional 4,950 shares during the period. Brown Advisory Inc. raised its stake in shares of Blueknight Energy Partners L.P. by 20.0% in the fourth quarter. Brown Advisory Inc. now owns 30,000 shares of the pipeline company’s stock worth $205,000 after buying an additional 5,000 shares during the period. Taylor Wealth Management Partners purchased a new stake in shares of Blueknight Energy Partners L.P. during the first quarter worth approximately $304,000. Finally, Terril Brothers Inc. raised its stake in shares of Blueknight Energy Partners L.P. by 1.8% in the fourth quarter. Terril Brothers Inc. now owns 55,900 shares of the pipeline company’s stock worth $383,000 after buying an additional 1,000 shares during the period. Institutional investors own 61.81% of the company’s stock.

Blueknight Energy Partners L.P. Company Profile

Blueknight Energy Partners, L.P. is a master limited partnership company. The Company manages its operations through four segments: asphalt terminaling services, crude oil terminaling and storage services, crude oil pipeline services, and crude oil trucking and producer field services. Asphalt terminaling services segment operations generally consist of fee based activities associated with providing storage, terminaling and throughput services for asphalt product and residual fuel oil.

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