Knot Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Friday, October 14th. Shareholders of record on Tuesday, November 1st will be paid a dividend of 0.52 per share on Monday, November 14th. This represents a $2.08 annualized dividend and a yield of 9.90%. The ex-dividend date of this dividend is Friday, October 28th.
Shares of Knot Offshore Partners (NYSE:KNOP) traded up 3.24% during mid-day trading on Friday, reaching $21.01. The company’s stock had a trading volume of 74,081 shares. The firm has a market capitalization of $583.07 million, a P/E ratio of 12.04 and a beta of 0.75. Knot Offshore Partners has a 1-year low of $9.68 and a 1-year high of $21.13. The company’s 50-day moving average is $19.60 and its 200 day moving average is $18.64.
Knot Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.04. Knot Offshore Partners had a net margin of 29.12% and a return on equity of 9.36%. On average, analysts expect that Knot Offshore Partners will post $1.76 earnings per share for the current year.
A hedge fund recently bought a new stake in Knot Offshore Partners stock. BlackRock Institutional Trust Company N.A. purchased a new position in Knot Offshore Partners LP (NYSE:KNOP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,876 shares of the company’s stock, valued at approximately $239,000. 48.52% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on KNOP shares. Barclays PLC lifted their price target on Knot Offshore Partners from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Zacks Investment Research upgraded Knot Offshore Partners from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, August 16th. Wells Fargo & Co. started coverage on Knot Offshore Partners in a research note on Thursday, August 25th. They issued a “market perform” rating on the stock. Finally, Citigroup Inc. restated a “hold” rating and issued a $20.00 price target (up from $14.00) on shares of Knot Offshore Partners in a research note on Monday, July 11th. One research 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 has an average rating of “Hold” and an average price target of $19.69.
About Knot Offshore Partners
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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