KNOT Offshore Partners LP (NYSE:KNOP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.00.

KNOP has been the subject of a number of research analyst reports. Weiss Ratings cut shares of KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Zacks Research cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. B. Riley Financial upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, March 20th. Wall Street Zen cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Fearnley Fonds upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of KNOT Offshore Partners by 8.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock worth $13,461,000 after purchasing an additional 108,400 shares in the last quarter. American Beacon Advisors Inc. increased its stake in shares of KNOT Offshore Partners by 182.6% during the 4th quarter. American Beacon Advisors Inc. now owns 503,895 shares of the shipping company’s stock worth $5,215,000 after purchasing an additional 325,588 shares in the last quarter. Millennium Management LLC increased its stake in shares of KNOT Offshore Partners by 56.5% during the 4th quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock worth $1,506,000 after purchasing an additional 52,538 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of KNOT Offshore Partners during the 4th quarter worth approximately $1,294,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of KNOT Offshore Partners during the 1st quarter worth approximately $643,000. 26.82% of the stock is owned by hedge funds and other institutional investors.

KNOT Offshore Partners Trading Up 0.2%

NYSE:KNOP opened at $11.02 on Monday. KNOT Offshore Partners has a 1 year low of $6.16 and a 1 year high of $11.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 0.25. The stock has a market capitalization of $370.90 million, a price-to-earnings ratio of 20.41 and a beta of -0.06. The stock has a fifty day moving average price of $10.55 and a two-hundred day moving average price of $10.44.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The company had revenue of $92.01 million during the quarter, compared to analysts’ expectations of $90.35 million. As a group, sell-side analysts anticipate that KNOT Offshore Partners will post 0.87 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were given a $0.05 dividend. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, April 27th. KNOT Offshore Partners’s dividend payout ratio (DPR) is 37.04%.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long?term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi?year contracts with major energy producers.