Blueknight Energy Receives a Hold from RBC Capital

By Ryan Adsit

RBC Capital analyst T J Schultz reiterated a Hold rating on Blueknight Energy (NASDAQ: BKEP) on November 12 and set a price target of $8. The company’s shares closed yesterday at $5.35, close to its 52-week low of $5.30.

According to TipRanks.com, Schultz is a 5-star analyst with an average return of 12.3% and a 56.1% success rate. Schultz covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, American Midstreampartners Lp, and Energy Transfer Partners LP.

Blueknight Energy has an analyst consensus of Moderate Buy, with a price target consensus of $8.

Based on Blueknight Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $47.47 million and quarterly net profit of $9.46 million. In comparison, last year the company earned revenue of $46.94 million and had a net profit of $11.08 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BKEP in relation to earlier this year.

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Blueknight Energy Partners LP LLC engages in the provision of integrated terminalling, storage, gathering, and transportation services. It operates through the following segments: Asphalt Terminalling Services, Crude Oil Terminalling and Storage Services, Crude Oil Pipeline Services, and Crude Oil Trucking and Producer Field Services.