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

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KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, October 15th, Zacks reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.52 per share by the shipping company on Thursday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.57%. The ex-dividend date is Wednesday, October 30th.

Shares of KNOP traded down $0.15 during midday trading on Tuesday, reaching $19.68. The stock had a trading volume of 501 shares, compared to its average volume of 65,809. KNOT Offshore Partners has a 1-year low of $17.18 and a 1-year high of $21.20. The company’s fifty day simple moving average is $19.23 and its two-hundred day simple moving average is $19.30. The company has a market cap of $643.99 million, a price-to-earnings ratio of 7.84 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.49 and a quick ratio of 0.47.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.25 earnings per share for the quarter. KNOT Offshore Partners had a net margin of 17.94% and a return on equity of 7.95%. The business had revenue of $70.92 million for the quarter, compared to analyst estimates of $70.10 million.

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of KNOT Offshore Partners from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. BTIG Research assumed coverage on shares of KNOT Offshore Partners in a research note on Monday, October 21st. They set a “buy” rating and a $24.00 price target on the stock. Zacks Investment Research upgraded shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 24th. ValuEngine upgraded shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, TheStreet lowered shares of KNOT Offshore Partners from a “c” rating to a “d+” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $21.67.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 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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