RBC Capital Reaffirms Their Hold Rating on Blueknight Energy (BKEP)


In a report released yesterday, T J Schultz from RBC Capital reiterated a Hold rating on Blueknight Energy (NASDAQ: BKEP), with a price target of $3. The company’s shares closed yesterday at $2.65, close to its 52-week low of $2.60.

According to TipRanks.com, Schultz is a top 100 analyst with an average return of 20.9% and a 70.8% success rate. Schultz covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Oasis Midstream Partners Lp, and Enbridge Energy Management.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blueknight Energy with a $3.33 average price target.

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Based on Blueknight Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.76 million. In comparison, last year the company had a net profit of $6.12 million.

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

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