KNOT Offshore Partners (NYSE:KNOP) declared a quarterly dividend on Monday, April 16th, Zacks reports. Stockholders of record on Wednesday, May 2nd will be paid a dividend of 0.52 per share by the shipping company on Tuesday, May 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date is Tuesday, May 1st.
KNOT Offshore Partners has increased its dividend payment by an average of 5.0% annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 99.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect KNOT Offshore Partners to earn $2.19 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 95.0%.
Shares of KNOT Offshore Partners stock opened at $20.70 on Tuesday. The firm has a market capitalization of $658.79, a PE ratio of 9.16 and a beta of 0.68. KNOT Offshore Partners has a 12 month low of $19.15 and a 12 month high of $24.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.44 and a current ratio of 0.46.
KNOP has been the topic of a number of recent research reports. Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. TheStreet raised shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a report on Wednesday, February 21st. Citigroup lowered their price objective on shares of KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 28th. Finally, ValuEngine lowered shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.00.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.
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