What’s Ahead for Blueknight Energy Partners L.P. (BKEP) After Forming Descending Triangle Chart Pattern?

June 20, 2017 - By Maria Brooks

Investors sentiment increased to 1.45 in 2016 Q4. Its up 0.09, from 1.36 in 2016Q3. It increased, as 4 investors sold Blueknight Energy Partners L.P. shares while 7 reduced holdings. 5 funds opened positions while 11 raised stakes. 21.06 million shares or 8.40% less from 22.99 million shares in 2016Q3 were reported.
Clearbridge Invests holds 3.37 million shares or 0.03% of its portfolio. Msd Partners Ltd Partnership has invested 1.12% in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Walleye Trading Lc reported 0% stake. Oppenheimer And Inc has 15,000 shares for 0% of their portfolio. Goldman Sachs Grp Inc has 0% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP). 97,489 were accumulated by Prescott Grp Inc Cap Management Limited Liability Corporation. Kcg Inc invested 0% in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Manufacturers Life The reported 2,116 shares. Nuveen Asset Mgmt Limited Liability Corp owns 0% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP) for 85,926 shares. Moreover, Deutsche Retail Bank Ag has 0% invested in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Yorkville Capital Management Limited Liability Company invested in 0.36% or 53,075 shares. Glenmede Tru Na holds 56,350 shares. Toronto Dominion Bancorp reported 1,580 shares or 0% of all its holdings. Texas-based Cushing Asset Mngmt Limited Partnership has invested 0.67% in Blueknight Energy Partners L.P. (NASDAQ:BKEP). Neuberger Berman Ltd owns 5.85 million shares.

Since May 9, 2017, it had 3 buys, and 1 sale for $310,036 activity. 8,000 shares were sold by Stallings Alex G, worth $53,600 on Tuesday, May 9. Lampton William Walter bought $61,845 worth of stock.

The stock of Blueknight Energy Partners L.P. (BKEP) formed a descending triangle with $6.92 target or 4.00 % above today’s $6.65 share price. The 8 months triangle pattern indicates low risk for the $261.42 million company. If the $6.92 price target is reached, the company will be worth $10.46 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 2.21% or $0.15 on June 19, reaching $6.65. About shares traded. Blueknight Energy Partners L.P. (NASDAQ:BKEP) has risen 36.27% since June 20, 2016 and is uptrending. It has outperformed by 19.57% the S&P500.

Analysts await Blueknight Energy Partners L.P. (NASDAQ:BKEP) to report earnings on August, 1. They expect $-0.03 EPS, 0.00 % or $0.00 from last year’s $-0.03 per share. After $-0.08 actual EPS reported by Blueknight Energy Partners L.P. for the previous quarter, Wall Street now forecasts -62.50 % EPS growth.

Blueknight Energy Partners L.P. (NASDAQ:BKEP) Ratings Coverage

Among 6 analysts covering Blueknight Energy (NASDAQ:BKEP), 3 have Buy rating, 1 Sell and 2 Hold. Therefore 50% are positive. Blueknight Energy had 9 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Blueknight Energy Partners L.P. (NASDAQ:BKEP) earned “Sector Perform” rating by RBC Capital Markets on Friday, November 6. Barclays Capital maintained it with “Underweight” rating and $6.0 target in Tuesday, August 11 report. The stock has “Buy” rating by DA Davidson on Friday, October 7. The rating was initiated by Janney Capital on Thursday, May 19 with “Neutral”. As per Friday, July 22, the company rating was upgraded by Suntrust Robinson. As per Friday, July 22, the company rating was upgraded by SunTrust.

More notable recent Blueknight Energy Partners L.P. (NASDAQ:BKEP) news were published by: Reuters.com which released: “BRIEF-Blueknight Energy Partners says entered into a second amended and …” on May 12, 2017, also Seekingalpha.com with their article: “Blueknight Energy Partners Is Headed For Higher Grounds” published on April 03, 2015, Nasdaq.com published: “Blueknight Energy Partners LP, LLC (BKEP) Ex-Dividend Date Scheduled for …” on January 31, 2017. More interesting news about Blueknight Energy Partners L.P. (NASDAQ:BKEP) were released by: Nasdaq.com and their article: “Blueknight Energy Partners LP, LLC (BKEP) Ex-Dividend Date Scheduled for May …” published on May 02, 2017 as well as Seekingalpha.com‘s news article titled: “Blueknight Energy Partners’ (BKEP) CEO Mark Hurley on Q1 2017 Results …” with publication date: May 07, 2017.

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