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

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Investors of record on Monday, April 29th will be paid a dividend of 0.026 per share by the shipping company on Thursday, May 9th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, April 26th.

KNOT Offshore Partners has decreased its dividend payment by an average of 63.2% annually over the last three years. KNOT Offshore Partners has a payout ratio of 250.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect KNOT Offshore Partners to earn $0.03 per share next year, which means the company may not be able to cover its $0.10 annual dividend with an expected future payout ratio of 333.3%.

KNOT Offshore Partners Price Performance

Shares of KNOT Offshore Partners stock traded down $0.05 during mid-day trading on Wednesday, reaching $4.99. 81,477 shares of the stock were exchanged, compared to its average volume of 73,275. The company has a market cap of $169.86 million, a price-to-earnings ratio of -4.89 and a beta of 0.67. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The firm has a 50-day simple moving average of $5.38 and a 200 day simple moving average of $5.68. KNOT Offshore Partners has a fifty-two week low of $4.28 and a fifty-two week high of $7.00.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last announced its earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.23). The firm had revenue of $73.03 million for the quarter, compared to analyst estimates of $70.96 million. KNOT Offshore Partners had a positive return on equity of 2.86% and a negative net margin of 11.81%. On average, sell-side analysts predict that KNOT Offshore Partners will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of hedge funds have recently added to or reduced their stakes in KNOP. Credit Suisse AG bought a new stake in KNOT Offshore Partners during the 2nd quarter worth about $43,000. WINTON GROUP Ltd bought a new stake in KNOT Offshore Partners during the 2nd quarter worth about $66,000. LPL Financial LLC bought a new stake in KNOT Offshore Partners during the 3rd quarter worth about $70,000. Bayesian Capital Management LP bought a new stake in KNOT Offshore Partners during the 1st quarter worth about $85,000. Finally, UBS Group AG grew its holdings in KNOT Offshore Partners by 847.7% during the 3rd quarter. UBS Group AG now owns 6,899 shares of the shipping company's stock worth $97,000 after acquiring an additional 6,171 shares during the last quarter. Institutional investors own 26.82% of the company's stock.

About KNOT Offshore Partners

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