Millennium Management LLC Purchases 78,194 Shares of KNOT Offshore Partners LP (NYSE:KNOP)

Millennium Management LLC raised its position in shares of KNOT Offshore Partners LP (NYSE:KNOP - Free Report) by 123.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,503 shares of the shipping company's stock after purchasing an additional 78,194 shares during the quarter. Millennium Management LLC owned 0.41% of KNOT Offshore Partners worth $771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in KNOT Offshore Partners by 15.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company's stock worth $74,000 after buying an additional 1,865 shares in the last quarter. 683 Capital Management LLC increased its holdings in KNOT Offshore Partners by 2.5% in the 4th quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company's stock worth $8,774,000 after acquiring an additional 39,800 shares in the last quarter. Jane Street Group LLC purchased a new stake in KNOT Offshore Partners in the 4th quarter worth approximately $184,000. Transce3nd LLC bought a new stake in KNOT Offshore Partners during the 4th quarter worth approximately $77,000. Finally, Marshall Wace LLP lifted its holdings in KNOT Offshore Partners by 19.0% during the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company's stock valued at $1,112,000 after purchasing an additional 32,616 shares in the last quarter. Hedge funds and other institutional investors own 26.82% of the company's stock.

KNOT Offshore Partners Price Performance

NYSE KNOP traded up $0.07 during trading hours on Tuesday, reaching $6.47. The company's stock had a trading volume of 56,986 shares, compared to its average volume of 84,562. KNOT Offshore Partners LP has a 1 year low of $5.28 and a 1 year high of $9.11. The firm's 50-day moving average price is $6.45 and its 200-day moving average price is $6.03. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $221.90 million, a price-to-earnings ratio of -15.05 and a beta of -0.11.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The company had revenue of $84.03 million for the quarter, compared to analysts' expectations of $79.74 million. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. On average, equities research analysts predict that KNOT Offshore Partners LP will post 0.12 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, April 28th were issued a dividend of $0.026 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.10 annualized dividend and a yield of 1.61%. KNOT Offshore Partners's payout ratio is presently 24.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KNOP. Wall Street Zen raised shares of KNOT Offshore Partners from a "hold" rating to a "buy" rating in a research note on Friday. Fearnley Fonds raised KNOT Offshore Partners to a "strong-buy" rating in a report on Tuesday, April 1st.

KNOT Offshore Partners Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.