Blueknight Energy Partners LP (NASDAQ:BKEP) Plans $0.04 Quarterly Dividend

Blueknight Energy Partners LP (NASDAQ:BKEP) declared a quarterly dividend on Thursday, July 16th, Zacks reports. Stockholders of record on Tuesday, August 4th will be paid 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 of this dividend is Monday, August 3rd.

Blueknight Energy Partners has decreased its dividend by an average of 65.5% annually over the last three years. Blueknight Energy Partners has a payout ratio of -160.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of BKEP opened at $1.43 on Friday. The company has a market capitalization of $58.67 million, a price-to-earnings ratio of -5.50 and a beta of 2.23. Blueknight Energy Partners has a fifty-two week low of $0.53 and a fifty-two week high of $1.55. The business’s 50-day moving average is $1.41 and its 200-day moving average is $1.21.

Blueknight Energy Partners (NASDAQ:BKEP) last issued its earnings results on Wednesday, May 6th. The pipeline company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $79.11 million during the quarter. Blueknight Energy Partners had a net margin of 4.11% and a negative return on equity of 5.32%.

Separately, ValuEngine raised 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.

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Dividend History for Blueknight Energy Partners (NASDAQ:BKEP)

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