Stephens analyst Matt Schmid reiterated a Buy rating on Blueknight Energy (NASDAQ: BKEP) today and set a price target of $4. The company’s shares opened today at $2.80, close to its 52-week low of $2.65.
According to TipRanks.com, Schmid is a 1-star analyst with an average return of 0.1% and a 46.2% success rate. Schmid covers the Basic Materials sector, focusing on stocks such as Green Plains Partners, Energy Transfer Eq, and Williams Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blueknight Energy with a $4 average price target, which is a 42.9% upside from current levels. In a report issued on July 23, SunTrust Robinson also reiterated a Buy rating on the stock with a $4 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.
