KNOT Offshore Partners LP (NYSE:KNOP) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately positive: KNOT Offshore Partners has a consensus “Moderate Buy” rating from five analysts, with an average one-year price target of $14.00 versus a recent price of $10.56.
• The company raised its quarterly dividend to $0.10 per share, equating to an annualized $0.40 payout and an approximately 3.8% yield.
• Institutional investors and hedge funds own 26.82% of the company, while recent quarterly results included $0.05 in EPS on $96.78 million in revenue.

Shares of KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.00.

A number of research firms have recently issued reports on KNOP. Wall Street Zen raised shares of KNOT Offshore Partners from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. Weiss Ratings restated a "hold (c)" rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently modified their holdings of the company. American Beacon Advisors Inc. grew its stake in shares of KNOT Offshore Partners by 71.8% in the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company's stock valued at $8,638,000 after purchasing an additional 361,659 shares during the period. Royal Bank of Canada bought a new position in shares of KNOT Offshore Partners in the first quarter valued at about $25,000. Renaissance Technologies LLC lifted its position in shares of KNOT Offshore Partners by 8.8% during the first 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. Walleye Capital LLC bought a new position in KNOT Offshore Partners in the 1st quarter valued at $259,000. Finally, Janney Montgomery Scott LLC bought a new position in KNOT Offshore Partners in the first quarter valued at about $643,000. Institutional investors and hedge funds own 26.82% of the company's stock.

KNOT Offshore Partners Price Performance

NYSE KNOP opened at $10.56 on Friday. KNOT Offshore Partners has a 1 year low of $8.00 and a 1 year high of $11.78. The stock's 50-day moving average price is $10.79 and its two-hundred day moving average price is $10.60. The company has a current ratio of 0.34, a quick ratio of 0.33 and a debt-to-equity ratio of 1.10. The company has a market cap of $355.38 million, a PE ratio of 24.00 and a beta of -0.02.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The shipping company reported $0.05 EPS for the quarter. The firm had revenue of $96.78 million during the quarter. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.73%. On average, analysts predict that KNOT Offshore Partners will post 0.22 EPS for the current year.

KNOT Offshore Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, October 26th will be given a $0.10 dividend. The ex-dividend date is Monday, October 26th. This represents a $0.40 annualized dividend and a yield of 3.8%. This is a positive change from KNOT Offshore Partners's previous quarterly dividend of $0.0750. KNOT Offshore Partners's dividend payout ratio (DPR) is 90.91%.

About KNOT Offshore Partners

KNOT Offshore Partners LP NYSE: KNOP is a publicly traded master limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities to onshore terminals, refineries, or other designated locations, providing an essential link in the offshore oil supply chain.

The partnership typically places its vessels under long-term or medium-term charter contracts with energy companies and offshore producers. Its fleet is designed for shuttle-tanker operations, which can include dynamically positioning near offshore installations and repeatedly transporting crude oil between production sites and receiving terminals.

KNOT Offshore Partners was formed in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a joint venture associated with Knutsen OAS Shipping and NYK Line.

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