KNOT Offshore Partners LP (NYSE:KNOP) Declares Quarterly Dividend of $0.52

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Thursday, January 13th, Zacks reports. Stockholders of record on Friday, January 28th will be paid a dividend of 0.52 per share by the shipping company on Thursday, February 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 12.65%. The ex-dividend date is Thursday, January 27th.

KNOT Offshore Partners has a dividend payout ratio of 97.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect KNOT Offshore Partners to earn $2.01 per share next year, which means the company may not be able to cover its $2.08 annual dividend with an expected future payout ratio of 103.5%.

Shares of NYSE:KNOP opened at $16.44 on Friday. The company has a market cap of $541.04 million, a P/E ratio of 10.02 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 1.81. KNOT Offshore Partners has a 52 week low of $12.34 and a 52 week high of $20.34. The business has a fifty day simple moving average of $15.08 and a 200-day simple moving average of $17.54.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Thursday, November 18th. The shipping company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.23). KNOT Offshore Partners had a net margin of 19.85% and a return on equity of 14.64%. The firm had revenue of $66.58 million during the quarter, compared to analyst estimates of $70.80 million. During the same quarter in the previous year, the business posted $0.77 EPS. Sell-side analysts expect that KNOT Offshore Partners will post 2.11 earnings per share for the current fiscal year.

Separately, Zacks Investment Research cut KNOT Offshore Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 23rd.

An institutional investor recently raised its position in KNOT Offshore Partners stock. Morgan Stanley grew its stake in shares of KNOT Offshore Partners LP (NYSE:KNOP) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 332,715 shares of the shipping company’s stock after purchasing an additional 32,213 shares during the quarter. Morgan Stanley owned 1.01% of KNOT Offshore Partners worth $6,648,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.13% of the company’s stock.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP engages in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. The company was founded on February 21, 2013 and is headquartered in Aberdeen, the United Kingdom.

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Dividend History for KNOT Offshore Partners (NYSE:KNOP)

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