Blueknight Energy Partners LP (BKEP) to Issue Quarterly Dividend of $0.04 on August 14th

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 given a dividend of 0.04 per share by the pipeline company on Friday, August 14th. This represents a $0.16 annualized dividend 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 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.

BKEP opened at $1.43 on Friday. Blueknight Energy Partners has a 1-year low of $0.53 and a 1-year high of $1.55. The company has a 50-day moving average of $1.41 and a 200-day moving average of $1.21. The company has a market capitalization of $58.67 million, a P/E ratio of -5.50 and a beta of 2.23.

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

Separately, ValuEngine raised Blueknight Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th.

Blueknight Energy Partners Company Profile

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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