KNOT Offshore Partners LP (NYSE:KNOP) Stock Has Average Price Target of $14.00

Key Points

• Analyst sentiment is moderately positive: KNOT Offshore Partners has a consensus “Moderate Buy” rating from five analysts, with an average 12-month price target of $14.00 versus a recent price of $9.93.
• Institutional ownership increased: Several hedge funds and investment firms added to or initiated positions, with institutional investors collectively owning 26.82% of KNOP.
• Dividend raised: The partnership increased its quarterly dividend to $0.10 per share, equal to $0.40 annually and a 4.0% yield, though its payout ratio is high at 90.91%.

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $14.00.

KNOP has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of KNOT Offshore Partners in a research report on Tuesday. 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. 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

Several hedge funds and other institutional investors have recently modified their holdings of KNOP. Renaissance Technologies LLC raised 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. lifted its stake in KNOT Offshore Partners by 71.8% in the second quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company's stock valued at $8,638,000 after acquiring an additional 361,659 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in KNOT Offshore Partners in the first quarter valued at approximately $643,000. Walleye Capital LLC acquired a new stake in KNOT Offshore Partners in the first quarter valued at approximately $259,000. Finally, Royal Bank of Canada bought a new stake in KNOT Offshore Partners in the first quarter worth approximately $25,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

KNOT Offshore Partners Price Performance

NYSE KNOP opened at $9.93 on Thursday. The stock's 50-day moving average price is $10.60 and its two-hundred day moving average price is $10.53. 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 $334.31 million, a PE ratio of 22.57 and a beta of -0.02. KNOT Offshore Partners has a 1 year low of $8.77 and a 1 year high of $11.78.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $96.78 million for 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. Stockholders of record on Monday, October 26th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from KNOT Offshore Partners's previous quarterly dividend of $0.0750. The ex-dividend date of this dividend is Monday, October 26th. KNOT Offshore Partners's dividend payout ratio (DPR) is currently 90.91%.

About KNOT Offshore Partners

KNOT Offshore Partners LP NYSE: KNOP is a publicly traded limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities and loading terminals to onshore refineries, storage facilities and other destinations.

The partnership's vessels are generally employed under long-term or medium-term charter contracts with major oil and gas companies. Shuttle tankers are equipped with systems designed for offshore loading and unloading, including dynamic positioning and specialized bow-loading technology, enabling them to operate in demanding offshore environments.

KNOT Offshore Partners was formed by its sponsor, KNOT Offshore Partners AS, which is part of the KNOT group, a maritime organization associated with Knutsen OAS Shipping and Nippon Yusen Kabushiki Kaisha.

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