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

Key Points

• KNOT Offshore Partners LP has declared a quarterly dividend of $0.03 per share, with an ex-dividend date set for October 27th and payment scheduled for November 6th.
• The company's dividend payout ratio stands at 10.1%, indicating that earnings sufficient cover the dividend, with projected earnings of $0.53 per share for the next year.
• KNOT Offshore Partners recently reported earnings of $0.20 EPS, exceeding expectations, with total revenue of $87.06 million for the last quarter.

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) declared a quarterly dividend on Tuesday, October 7th. Investors of record on Monday, October 27th will be given a dividend of 0.026 per share by the shipping company on Thursday, November 6th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 27th.

KNOT Offshore Partners has a dividend payout ratio of 10.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:KNOP opened at $8.42 on Wednesday. KNOT Offshore Partners has a 12 month low of $5.28 and a 12 month high of $9.93. The stock has a 50 day moving average of $8.01 and a two-hundred day moving average of $7.12. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 1.37. The firm has a market cap of $288.63 million, a P/E ratio of 8.50 and a beta of -0.03.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The shipping company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $87.06 million during the quarter, compared to analyst estimates of $81.17 million. KNOT Offshore Partners had a return on equity of 5.58% and a net margin of 10.00%. On average, analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of KNOT Offshore Partners in a research report on Saturday, September 27th. Zacks Research raised shares of KNOT Offshore Partners to a "hold" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.