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

Millennium Management LLC grew its position in KNOT Offshore Partners LP (NYSE:KNOP - Free Report) by 123.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,503 shares of the shipping company's stock after buying 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.

A number of other large investors have also recently modified their holdings of KNOP. Virtu Financial LLC bought a new position in KNOT Offshore Partners in the fourth quarter valued at about $135,000. JPMorgan Chase & Co. increased its position in KNOT Offshore Partners by 31.9% during the 4th quarter. JPMorgan Chase & Co. now owns 583,545 shares of the shipping company's stock worth $3,180,000 after purchasing an additional 141,213 shares in the last quarter. Trexquant Investment LP raised its holdings in KNOT Offshore Partners by 170.4% in the 4th quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company's stock valued at $207,000 after buying an additional 23,907 shares during the last quarter. Marshall Wace LLP increased its stake in shares of KNOT Offshore Partners by 19.0% in the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company's stock valued at $1,112,000 after buying an additional 32,616 shares during the period. Finally, Transce3nd LLC acquired a new stake in KNOT Offshore Partners during the 4th quarter worth about $77,000. Institutional investors and hedge funds own 26.82% of the company's stock.

KNOT Offshore Partners Price Performance

NYSE KNOP traded down $0.11 during trading hours on Friday, reaching $6.43. 35,272 shares of the stock traded hands, compared to its average volume of 85,917. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. The stock has a 50 day simple moving average of $6.48 and a two-hundred day simple moving average of $6.03. KNOT Offshore Partners LP has a 1 year low of $5.28 and a 1 year high of $9.11. The company has a market cap of $220.36 million, a price-to-earnings ratio of -14.94 and a beta of -0.11.

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

KNOT Offshore Partners Announces Dividend

The firm also recently announced 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. This represents a $0.10 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Monday, April 28th. KNOT Offshore Partners's dividend payout ratio is currently 24.39%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Fearnley Fonds upgraded KNOT Offshore Partners to a "strong-buy" rating in a report on Tuesday, April 1st. Wall Street Zen upgraded shares of KNOT Offshore Partners from a "hold" rating to a "buy" rating in a research report on Friday.

About KNOT Offshore Partners

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.