Knot Offshore Partners LP (KNOP) to Issue $0.52 Quarterly Dividend
Knot Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Friday, October 14th. Investors of record on Tuesday, November 1st will be given a dividend of 0.52 per share on Monday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 9.90%. The ex-dividend date of this dividend is Friday, October 28th.
Knot Offshore Partners (NYSE:KNOP) traded up 3.24% on Friday, hitting $21.01. 74,081 shares of the company were exchanged. Knot Offshore Partners has a 52-week low of $9.68 and a 52-week high of $21.13. The stock has a market capitalization of $583.07 million, a P/E ratio of 12.04 and a beta of 0.75. The stock’s 50-day moving average price is $19.60 and its 200-day moving average price is $18.64.
Knot Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Knot Offshore Partners had a return on equity of 9.36% and a net margin of 29.12%. On average, equities research analysts anticipate that Knot Offshore Partners will post $1.76 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Knot Offshore Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, August 16th. Barclays PLC upped their price objective on Knot Offshore Partners from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 17th. Wells Fargo & Co. began coverage on Knot Offshore Partners in a research note on Thursday, August 25th. They set a “market perform” rating for the company. Finally, Citigroup Inc. reaffirmed a “hold” rating and set a $20.00 target price (up from $14.00) on shares of Knot Offshore Partners in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.69.
An institutional investor recently raised its position in Knot Offshore Partners stock. Van ECK Associates Corp increased its stake in shares of Knot Offshore Partners LP (NYSE:KNOP) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 236,214 shares of the company’s stock after buying an additional 7,398 shares during the period. Van ECK Associates Corp owned approximately 0.85% of Knot Offshore Partners worth $4,384,000 at the end of the most recent quarter. 48.52% of the stock is owned by institutional investors and hedge funds.
Knot Offshore Partners Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership) owns, operates and shuttles tankers under long-term charters. The Partnership is formed for the purpose of acquiring ownership interests in over four shuttle tankers owned by Knutsen NYK Offshore Tankers AS (KNOT). It operates through the shuttle tanker market segment.
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