The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) hit a new 52-week high and has $8.83 target or 51.00% above today’s $5.85 share price. The 8 months bullish chart indicates low risk for the $213.10M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $8.83 price target is reached, the company will be worth $108.68 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $5.85 per share. It is down 30.12% since April 19, 2016 and is uptrending. It has outperformed by 26.26% the S&P500.
Blueknight Energy Partners L.P. (NASDAQ:BKEP) Ratings Coverage
Out of 6 analysts covering Blueknight Energy (NASDAQ:BKEP), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. $9 is the highest target while $6 is the lowest. The $7 average target is 19.66% above today’s ($5.85) stock price. Blueknight Energy has been the topic of 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, July 22 by SunTrust. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, November 6. The stock has “Underweight” rating given by Barclays Capital on Tuesday, August 11. The firm earned “Buy” rating on Friday, October 7 by DA Davidson. The rating was upgraded by Suntrust Robinson to “Buy” on Friday, July 22. The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) earned “Neutral” rating by Janney Capital on Thursday, May 19.
According to Zacks Investment Research, “Blueknight Energy Partners, L.P., based in Tulsa, Oklahoma, owns and operates a diversified portfolio of complementary midstream energy assets. It provides midstream services to its customers by focusing in three operational areas: crude oil terminalling and storage, crude oil gathering and transportation services and asphalt terminalling, storage and processing services. The Company’s strategically located storage facilities, terminals and pipelines provide customers the flexibility to access multiple receipt and delivery points. Its vision is to use its strategically located assets to be a leading provider of midstream services in the energy industry. It intends to accomplish its objective by: pursuing both strategic and accretive acquisitions within the midstream energy industry, pursuing organic expansion opportunities by constructing additional assets in strategic locations, and expanding storage capacity, particularly at its Cushing terminal, and increasing the profitability of its existing assets.”
Insitutional Activity: The institutional sentiment increased to 1.36 in Q2 2016. Its up 0.28, from 1.08 in 2016Q1. The ratio improved, as 3 funds sold all Blueknight Energy Partners L.P. shares owned while 9 reduced positions. 5 funds bought stakes while 8 increased positions. They now own 21.79 million shares or 1.28% less from 22.08 million shares in 2016Q1.
The Massachusetts-based Geode Cap Mgmt Ltd Liability has invested 0% in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Royal Commercial Bank Of Canada last reported 0% of its portfolio in the stock. California Public Employees Retirement Sys, a California-based fund reported 89,764 shares. The New York-based Dg Mngmt Limited Company has invested 31.82% in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Morgan Stanley, a New York-based fund reported 511,075 shares. Terril Brothers has 54,900 shares for 0.13% of their US portfolio. Stifel Fincl has 11,176 shares for 0% of their US portfolio. Hite Hedge Asset Ltd Liability has invested 0.93% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Clearbridge Invs Limited Liability accumulated 3.36M shares or 0.02% of the stock. Moreover, Toronto Dominion State Bank has 0% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 1,645 shares. Citigroup Inc last reported 0% of its portfolio in the stock. Moreover, Neuberger Berman Group Ltd Liability has 0.04% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 5.57 million shares. Deutsche State Bank Ag, a Germany-based fund reported 19,281 shares. Manufacturers Life Insurance Company The accumulated 0% or 2,116 shares. Taurus Asset Mgmt Ltd Llc reported 60,200 shares or 0.06% of all its holdings.
Insider Transactions: Since August 24, 2016, the stock had 1 buying transaction, and 1 insider sale for $1.71 million net activity. On Monday, November 21 the insider Lampton William Walter bought $153,600. Another trade for 320,554 shares valued at $1.86M was sold by MSD Partners – L.P..
More recent Blueknight Energy Partners L.P. (NASDAQ:BKEP) news were published by: Marketwatch.com which released: “Blueknight Energy stock price target raised to $8 from $5 at SunTrust RH” on April 21, 2011. Also Businesswire.com published the news titled: “Blueknight Energy Partners Completes Acquisition of Nine Asphalt Terminals …” on October 05, 2016. Equitiesfocus.com‘s news article titled: “Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) 50-day Moving Average At …” with publication date: November 14, 2016 was also an interesting one.
BKEP Company Profile
Blueknight Energy Partners, L.P., incorporated on February 22, 2007, is a master limited partnership with activities in over 20 states. The Firm provides integrated terminalling, storage, gathering and transportation services for companies engaged in the production, distribution and marketing of liquid asphalt cement and crude oil. The Firm operates in four divisions, namely, asphalt terminalling services, which provides asphalt product and residual fuel terminalling, storage and blending services at its over 40 terminalling and storage facilities located in over 20 states; crude oil terminalling and storage services, which provides crude oil terminalling and storage services at its terminalling and storage facilities located in Oklahoma and Texas; crude oil pipeline services, which owns and operates approximately three pipeline systems, the Mid-Continent system, the East Texas system and Eagle North system, that gather crude oil purchased by its clients and transports it to refiners, to common carrier pipelines, and crude oil trucking and producer field services, which uses its owned and leased tanker trucks to gather crude oil for its clients at remote wellhead locations. The Company’s operating assets are owned by, and its activities are conducted through, its subsidiaries. The Company’s crude oil activities are located primarily in Oklahoma, Kansas and Texas. The Company’s general partner is Blueknight Energy Partners G.P., L.L.C.
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