Shares of Knot Offshore Partners LP (NYSE:KNOP) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.62.
Several research firms have recently weighed in on KNOP. Barclays PLC upped their price objective on Knot Offshore Partners from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 17th. Citigroup Inc. reissued a “hold” rating and set a $20.00 price target (up from $14.00) on shares of Knot Offshore Partners in a research report on Monday, July 11th. Zacks Investment Research raised Knot Offshore Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, August 16th. Finally, Wells Fargo & Co. started coverage on Knot Offshore Partners in a research report on Thursday, August 25th. They set a “market perform” rating for the company.
Several hedge funds have recently added to or reduced their stakes in KNOP. State Street Corp boosted its stake in Knot Offshore Partners by 3.9% in the first quarter. State Street Corp now owns 15,607 shares of the company’s stock worth $256,000 after buying an additional 584 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Knot Offshore Partners by 64.6% in the second quarter. Acrospire Investment Management LLC now owns 8,177 shares of the company’s stock worth $152,000 after buying an additional 3,208 shares during the last quarter. Green Square Capital LLC boosted its stake in Knot Offshore Partners by 1.8% in the second quarter. Green Square Capital LLC now owns 308,457 shares of the company’s stock worth $5,725,000 after buying an additional 5,410 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Knot Offshore Partners by 38.8% in the second quarter. Cohen & Steers Inc. now owns 20,815 shares of the company’s stock worth $386,000 after buying an additional 5,815 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Knot Offshore Partners by 3.2% in the second quarter. Van ECK Associates Corp now owns 236,214 shares of the company’s stock worth $4,384,000 after buying an additional 7,398 shares during the last quarter. 48.50% of the stock is owned by institutional investors.
Shares of Knot Offshore Partners (NYSE:KNOP) traded up 2.7877% on Wednesday, reaching $20.9687. The company’s stock had a trading volume of 66,256 shares. Knot Offshore Partners has a 1-year low of $9.68 and a 1-year high of $21.25. The firm has a market cap of $581.92 million, a price-to-earnings ratio of 12.0164 and a beta of 0.75. The company’s 50 day moving average is $19.81 and its 200-day moving average is $18.76.
Knot Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.04. Knot Offshore Partners had a return on equity of 9.36% and a net margin of 29.12%. Equities research analysts expect that Knot Offshore Partners will post $1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Tuesday, November 1st will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.20%. Knot Offshore Partners’s payout ratio is 83.53%.
Knot Offshore Partners Company Profile
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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