Blueknight Energy Partners LP (NASDAQ:BKEP) announced a quarterly dividend on Thursday, July 16th, Zacks reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.04 per share by the pipeline company on Friday, August 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 11.19%. The ex-dividend date is Monday, August 3rd.
Blueknight Energy Partners has decreased its dividend payment by an average of 65.5% per year over the last three years. Blueknight Energy Partners has a dividend payout ratio of -160.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
BKEP opened at $1.43 on Friday. The firm has a market capitalization of $58.67 million, a P/E ratio of -5.50 and a beta of 2.23. The firm’s 50 day moving average is $1.41 and its 200-day moving average is $1.21. Blueknight Energy Partners has a 52-week low of $0.53 and a 52-week high of $1.55.
Blueknight Energy Partners (NASDAQ:BKEP) last posted its quarterly earnings data on Wednesday, May 6th. The pipeline company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $79.11 million for the quarter. Blueknight Energy Partners had a net margin of 4.11% and a negative return on equity of 5.32%.
Separately, ValuEngine upgraded shares of Blueknight Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th.
About Blueknight Energy Partners
Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company operates through four segments: Asphalt Terminalling Services, Crude Oil Terminalling Services, Crude Oil Pipeline Services, and Crude Oil Trucking Services.
Further Reading: What is the 52-week high/low?
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