KNOT Offshore Partners LP (KNOP) To Go Ex-Dividend on October 26th

KNOT Offshore Partners LP (NYSE:KNOP – Get Free Report) announced a quarterly dividend on Thursday, October 1st. Shareholders of record on Monday, October 26th will be given a dividend of $0.10 per share by the shipping company on Thursday, November 12th. This represents a $0.40 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, October 26th. This is a 33.3% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.0750.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5% per year over the last three years. KNOT Offshore Partners has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect KNOT Offshore Partners to earn $0.19 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 210.5%.

KNOT Offshore Partners Trading Up 2.0%

KNOP traded up $0.20 during trading on Friday, hitting $10.25. The company’s stock had a trading volume of 49,240 shares, compared to its average volume of 48,507. The stock has a market cap of $345.01 million, a PE ratio of 23.30 and a beta of -0.02. The firm’s 50 day moving average price is $10.66 and its 200-day moving average price is $10.61. KNOT Offshore Partners has a twelve month low of $8.77 and a twelve month high of $11.78. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.34 and a quick ratio of 0.33.

KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last released its earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share for the quarter. KNOT Offshore Partners had a return on equity of 5.73% and a net margin of 3.90%. The firm had revenue of $96.78 million for the quarter. On average, analysts expect that KNOT Offshore Partners will post 0.22 earnings per share for the current year.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada acquired a new stake in KNOT Offshore Partners during the 1st quarter worth approximately $25,000. Walleye Capital LLC acquired a new position in KNOT Offshore Partners during the first quarter valued at approximately $259,000. Janney Montgomery Scott LLC acquired a new position in KNOT Offshore Partners during the first quarter valued at approximately $643,000. Renaissance Technologies LLC lifted its position in KNOT Offshore Partners by 8.8% during the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock valued at $13,461,000 after buying an additional 108,400 shares in the last quarter. Finally, American Beacon Advisors Inc. grew its stake in KNOT Offshore Partners by 71.8% during the second quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock worth $8,638,000 after buying an additional 361,659 shares during the period. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

(Get Free Report)

KNOT Offshore Partners LP (NYSE: KNOP) is a publicly traded limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities and loading terminals to onshore refineries, storage facilities and other destinations.

The partnership’s vessels are generally employed under long-term or medium-term charter contracts with major oil and gas companies. Shuttle tankers are equipped with systems designed for offshore loading and unloading, including dynamic positioning and specialized bow-loading technology, enabling them to operate in demanding offshore environments.

KNOT Offshore Partners was formed by its sponsor, KNOT Offshore Partners AS, which is part of the KNOT group, a maritime organization associated with Knutsen OAS Shipping and Nippon Yusen Kabushiki Kaisha.

See Also

Dividend History for KNOT Offshore Partners (NYSE:KNOP)

Receive News & Ratings for KNOT Offshore Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners and related companies with MarketBeat.com's FREE daily email newsletter.