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

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) declared a quarterly dividend on Monday, July 7th, Wall Street Journal reports. Shareholders of record on Monday, July 28th will be given a dividend of 0.026 per share by the shipping company on Thursday, August 7th. This represents a $0.10 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, July 28th.

KNOT Offshore Partners has a dividend payout ratio of 10.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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

KNOT Offshore Partners stock traded down $0.09 during trading on Wednesday, hitting $6.95. The stock had a trading volume of 1,577 shares, compared to its average volume of 75,862. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 1.31. The stock's 50 day moving average is $6.56 and its two-hundred day moving average is $6.16. KNOT Offshore Partners has a 1 year low of $5.28 and a 1 year high of $8.15. The stock has a market cap of $238.39 million, a price-to-earnings ratio of 17.00 and a beta of -0.11.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $84.03 million for the quarter, compared to analysts' expectations of $79.74 million. KNOT Offshore Partners had a return on equity of 4.35% and a net margin of 4.36%. As a group, analysts predict that KNOT Offshore Partners will post 0.12 EPS for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

An institutional investor recently bought a new position in KNOT Offshore Partners stock. Acadian Asset Management LLC bought a new stake in KNOT Offshore Partners LP (NYSE:KNOP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,906 shares of the shipping company's stock, valued at approximately $130,000. Acadian Asset Management LLC owned 0.06% of KNOT Offshore Partners as of its most recent SEC filing. 26.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNOP. Fearnley Fonds upgraded shares of KNOT Offshore Partners to a "strong-buy" rating in a research report on Tuesday, April 1st. Wall Street Zen upgraded shares of KNOT Offshore Partners from a "hold" rating to a "buy" rating in a report on Friday, June 6th.

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.