Blueknight Energy Partners LP (NASDAQ:BKEP) announced a quarterly dividend on Thursday, July 16th, Zacks reports. Stockholders of record on Tuesday, August 4th will be paid 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 by an average of 65.5% per year over the last three years. Blueknight Energy Partners has a dividend 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.

Shares of NASDAQ BKEP opened at $1.43 on Friday. The company’s 50-day simple moving average is $1.41 and its 200-day simple moving average is $1.21. Blueknight Energy Partners has a 52-week low of $0.53 and a 52-week high of $1.55. The firm has a market cap of $58.67 million, a price-to-earnings ratio of -5.50 and a beta of 2.23.

Blueknight Energy Partners (NASDAQ:BKEP) last posted its quarterly earnings results on Wednesday, May 6th. The pipeline company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.02). The business 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 shares of Blueknight Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th.

About Blueknight Energy Partners

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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