ValuEngine lowered shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a sell rating in a report released on Tuesday.

A number of other brokerages have also recently weighed in on KNOP. Zacks Investment Research raised KNOT Offshore Partners from a hold rating to a strong-buy rating and set a $24.00 price objective on the stock in a report on Tuesday, June 12th. TheStreet cut KNOT Offshore Partners from a b- rating to a c rating in a report on Wednesday, June 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $22.50.

Shares of NYSE KNOP opened at $22.20 on Tuesday. The stock has a market cap of $733.98 million, a P/E ratio of 9.82 and a beta of 0.57. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.45 and a current ratio of 0.47. KNOT Offshore Partners has a 1-year low of $19.15 and a 1-year high of $23.95.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Tuesday, June 5th. The shipping company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.39. The company had revenue of $68.04 million for the quarter, compared to analysts’ expectations of $68.51 million. KNOT Offshore Partners had a return on equity of 13.85% and a net margin of 36.06%. equities analysts expect that KNOT Offshore Partners will post 2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Wednesday, August 1st were paid a $0.52 dividend. The ex-dividend date was Tuesday, July 31st. This represents a $2.08 dividend on an annualized basis and a yield of 9.37%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 92.04%.

Institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Management LLC purchased a new position in KNOT Offshore Partners in the 2nd quarter worth approximately $200,000. Wells Fargo & Company MN increased its stake in KNOT Offshore Partners by 31.7% in the 1st quarter. Wells Fargo & Company MN now owns 11,966 shares of the shipping company’s stock worth $237,000 after purchasing an additional 2,878 shares during the period. Ballentine Partners LLC increased its stake in KNOT Offshore Partners by 14.5% in the 2nd quarter. Ballentine Partners LLC now owns 22,968 shares of the shipping company’s stock worth $509,000 after purchasing an additional 2,908 shares during the period. Avalon Advisors LLC increased its stake in KNOT Offshore Partners by 87.2% in the 1st quarter. Avalon Advisors LLC now owns 28,414 shares of the shipping company’s stock worth $563,000 after purchasing an additional 13,236 shares during the period. Finally, Taylor Frigon Capital Management LLC purchased a new position in KNOT Offshore Partners in the 2nd quarter worth approximately $813,000. 40.34% of the stock is currently owned by institutional investors and hedge funds.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company loading, transportation and storage of their crude oil services under time charters and bareboat charters. As of April 25, 2018, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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