KNOT Offshore Partners LP (NYSE:KNOP) Plans Quarterly Dividend of $0.03

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Wednesday, January 7th. Investors of record on Monday, January 26th will be given a dividend of 0.026 per share by the shipping company on Thursday, February 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, January 26th.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 10.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect KNOT Offshore Partners to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 18.9%.

KNOT Offshore Partners Stock Performance

KNOP stock opened at $10.17 on Thursday. The business’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $8.64. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 1.20. The firm has a market cap of $348.80 million, a PE ratio of 6.56 and a beta of -0.14. KNOT Offshore Partners has a 1-year low of $5.29 and a 1-year high of $10.99.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.32. KNOT Offshore Partners had a return on equity of 9.00% and a net margin of 14.69%.The company had revenue of $96.87 million during the quarter, compared to the consensus estimate of $88.12 million. As a group, research analysts forecast that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Wednesday, October 8th. B. Riley lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Fearnley Fonds downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Alliance Global Partners restated a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Finally, Wall Street Zen downgraded KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, KNOT Offshore Partners has a consensus rating of “Hold”.

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.