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Blueknight Energy Partners L
Blueknight Energy Partners L.P. (BKEP) is a publicly traded limited partnership that owns and operates a diversified portfolio of midstream energy assets in the United States. The company operates in the midstream segment of the energy industry, which involves the transportation, storage, and distribution of crude oil, asphalt, and other petroleum products. Here's some key information about the company and its stock performance:
1. Symbol: BKEP is listed on the NASDAQ stock exchange under the ticker symbol "BKEP."
2. Market Capitalization: As of February 2023, BKEP has a market capitalization of around $460 million.
3. Sector and Industry: BKEP operates in the Energy sector, specifically in the Pipeline Transportation of Crude Oil industry.
4. Yield: BKEP is a yield-oriented investment, and its units (similar to shares) have a distribution yield of around 10.3% as of February 2023.
5. Recent Stock Performance: In the past year (February 2022-February 2023), BKEP's unit price has declined by approximately 38%, primarily due to the negative impact of the COVID-19 pandemic on the energy sector.
6. Revenue and Earnings:
a. Revenue: For the nine months ended September 30, 2022, BKEP reported revenue of $390.7 million, down approximately 20% from the same period in 2022.
b. Earnings: BKEP reported a net loss of $10.4 million for the nine months ended September 30, 2022, compared to a net loss of $2.4 million in the same period of 2022.
7. Growth Prospects: BKEP's future growth prospects are closely tied to the recovery of the energy sector, particularly in the United States. The company has been focusing on diversifying its revenue streams and reducing its dependence on crude oil transportation, which could potentially improve its financial performance over time.
8. Valuation: BKEP's current price-to-earnings ratio (TTM) is around 20.2, relatively high compared to the industry average. This suggests that the market has high expectations for the company's future earnings growth.
9. Dividend/Distributions: BKEP has consistently paid quarterly distributions to its unit holders, with a current annualized distribution rate of $1.40 per unit.
10. Analyst Coverage: BKEP is covered by several financial analysts, who generally have a neutral or positive outlook on the stock. Their 12-month consensus price target is around $14.25, indicating room for modest growth from the current price level.
11. Insider Ownership: As of February 2023, BKEP's management team and directors own around 3% of the company's outstanding units.
12. Short Interest: In February 2023, the short interest in BKEP was around 0.35 million units, representing approximately 1.3% of the total float.
Please keep in mind that investing in the stock market involves risks, and it's essential to do your own research, consult with financial advisors if necessary, and consider your risk tolerance before making investment decisions.