Zazove Associates LLC Invests $8.03 Million in Blueknight Energy Partners, L.P. (NASDAQ:BKEP)

Zazove Associates LLC bought a new position in Blueknight Energy Partners, L.P. (NASDAQ:BKEP – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,402,670 shares of the pipeline company’s stock, valued at approximately $8,025,000. Zazove Associates LLC owned approximately 5.74% of Blueknight Energy Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, AE Wealth Management LLC bought a new stake in Blueknight Energy Partners in the fourth quarter worth approximately $46,000. 33.12% of the stock is currently owned by institutional investors.

Separately, StockNews.com raised Blueknight Energy Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 21st.

Blueknight Energy Partners stock remained flat at $$4.52 during mid-day trading on Monday. The company’s stock had a trading volume of 1,760 shares, compared to its average volume of 207,836. Blueknight Energy Partners, L.P. has a 12-month low of $3.00 and a 12-month high of $4.60. The company has a fifty day simple moving average of $4.53 and a 200-day simple moving average of $3.81. The stock has a market cap of $189.19 million, a price-to-earnings ratio of 19.65 and a beta of 1.61.

Blueknight Energy Partners (NASDAQ:BKEP – Get Rating) last announced its earnings results on Wednesday, May 4th. The pipeline company reported $0.01 earnings per share (EPS) for the quarter. Blueknight Energy Partners had a negative return on equity of 14.50% and a net margin of 30.41%. The company had revenue of $28.46 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were paid a $0.0425 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $0.17 dividend on an annualized basis and a yield of 3.76%. Blueknight Energy Partners’s dividend payout ratio is currently 73.91%.

Blueknight Energy Partners Profile (Get Rating)

Blueknight Energy Partners, L.P. provides integrated terminalling services for companies engaged in the production, distribution, and handling of liquid asphalt in the United States. As of March 1, 2022, it had 54 terminals located in 26 states. Blueknight Energy Partners G.P., LLC operates as a general partner of Blueknight Energy Partners, L.P.

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