ValuEngine upgraded shares of KNOT Offshore Partners LP (NYSE:KNOP) from a buy rating to a strong-buy rating in a report published on Friday.

Several other analysts also recently commented on the company. Zacks Investment Research downgraded KNOT Offshore Partners from a hold rating to a sell rating in a research note on Thursday, May 18th. BidaskClub downgraded KNOT Offshore Partners from a hold rating to a sell rating in a research note on Tuesday, August 22nd.

KNOT Offshore Partners (KNOP) opened at 23.65 on Friday. KNOT Offshore Partners has a 52-week low of $18.41 and a 52-week high of $24.67. The company’s 50-day moving average price is $23.11 and its 200 day moving average price is $22.73. The firm has a market capitalization of $715.46 million, a price-to-earnings ratio of 10.75 and a beta of 0.78.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Wednesday, August 2nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 8.79%. The ex-dividend date was Monday, July 31st. KNOT Offshore Partners’s payout ratio is presently 87.03%.

A number of institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in KNOT Offshore Partners during the 2nd quarter worth $381,000. Green Square Capital LLC raised its stake in KNOT Offshore Partners by 1.8% during the 2nd quarter. Green Square Capital LLC now owns 372,966 shares of the shipping company’s stock worth $8,560,000 after buying an additional 6,554 shares during the period. Royal Bank of Canada raised its stake in KNOT Offshore Partners by 4.8% during the 2nd quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after buying an additional 405 shares during the period. California Public Employees Retirement System raised its stake in KNOT Offshore Partners by 6.5% during the 2nd quarter. California Public Employees Retirement System now owns 34,500 shares of the shipping company’s stock worth $792,000 after buying an additional 2,100 shares during the period. Finally, Arrow Investment Advisors LLC acquired a new stake in KNOT Offshore Partners during the 2nd quarter worth $702,000. 50.14% of the stock is currently owned by institutional investors and hedge funds.

About KNOT Offshore Partners

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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