Important Short Interest Filing: Is Buying Blueknight Energy Partners LP (NASDAQ:BKEP) Here Good Idea?

November 25, 2016 - By Clifton Ray   ·   0 Comments

Important Short Interest Filing: Is Buying Blueknight Energy Partners LP (NASDAQ:BKEP) Here Good Idea?

The stock of Blueknight Energy Partners LP (NASDAQ:BKEP) registered a decrease of 52.5% in short interest. BKEP’s total short interest was 7,600 shares in November as published by FINRA. Its down 52.5% from 16,000 shares, reported previously. With 115,900 shares average volume, it will take short sellers 0 days to cover their BKEP’s short positions. The short interest to Blueknight Energy Partners LP’s float is 0.03%. The stock closed at $5.85 during the last session. It is down 17.92% since April 22, 2016 and is uptrending. It has outperformed by 12.51% the S&P500.

Blueknight Energy Partners, L.P. is a master limited partnership company. The company has a market cap of $213.10 million. The Firm provides integrated terminalling, storage, gathering and transportation services for companies engaged in the production, distribution and marketing of crude oil and liquid asphalt cement. It currently has negative earnings.

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.
Renaissance Technology Limited Liability, a New York-based fund reported 17,300 shares. Neuberger Berman Ltd Liability holds 5.57M shares or 0.04% of its portfolio. Moreover, Citigroup has 0% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 519,125 shares. Nuveen Asset Limited Liability Com has invested 0% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Fic Cap holds 0.09% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 36,675 shares. Ladenburg Thalmann Serv reported 1,476 shares or 0% of all its holdings. California Pub Employees Retirement System reported 89,764 shares or 0% of all its holdings. Morgan Stanley has 511,075 shares for 0% of their US portfolio. Dg Cap Mngmt Ltd Limited Liability Company accumulated 31.82% or 2.66M shares. Travelers has invested 0% of its portfolio in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Manufacturers Life Communication The accumulated 0% or 2,116 shares. Spirit Of America Mngmt accumulated 222,955 shares or 0.17% of the stock. Pnc Fincl Svcs Group Incorporated Inc accumulated 0% or 7,000 shares. Hite Hedge Asset Lc last reported 0.93% of its portfolio in the stock. Terril Brothers holds 54,900 shares or 0.13% of its portfolio.

Insider Transactions: Since August 24, 2016, the stock had 1 buying transaction, and 1 sale for $1.71 million net activity. 320,554 shares with value of $1.86 million were sold by MSD Partners – L.P. on Wednesday, August 24. On Monday, November 21 the insider Lampton William Walter bought $153,600.

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. Blueknight Energy has been the topic of 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the shares of BKEP in a report on Tuesday, August 11 with “Underweight” rating. The rating was upgraded by Suntrust Robinson to “Buy” on Friday, July 22. The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) has “Buy” rating given on Friday, July 22 by SunTrust. Janney Capital initiated Blueknight Energy Partners L.P. (NASDAQ:BKEP) on Thursday, May 19 with “Neutral” rating. The rating was initiated by DA Davidson on Friday, October 7 with “Buy”. The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) earned “Sector Perform” rating by RBC Capital Markets on Friday, November 6.

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.

More news for Blueknight Energy Partners L.P. (NASDAQ:BKEP) were recently published by: Marketwatch.com, which released: “Blueknight Energy stock price target raised to $8 from $5 at SunTrust RH” on April 21, 2011. Businesswire.com‘s article titled: “Blueknight Energy Partners Completes Acquisition of Nine Asphalt Terminals …” and published on October 05, 2016 is yet another important article.

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By Clifton Ray

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