Kayne Anderson Capital Advisors LP continued to hold its stake in shares of KNOT Offshore Partners LP (NYSE:KNOP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,263,063 shares of the shipping company’s stock at the end of the first quarter. Kayne Anderson Capital Advisors LP owned 8.15% of KNOT Offshore Partners worth $52,728,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Naples Global Advisors LLC bought a new stake in shares of KNOT Offshore Partners during the first quarter worth about $228,000. Wells Fargo & Company MN increased its stake in shares of KNOT Offshore Partners by 5.4% in the first quarter. Wells Fargo & Company MN now owns 25,845 shares of the shipping company’s stock worth $603,000 after buying an additional 1,320 shares in the last quarter. TCW Group Inc. increased its stake in shares of KNOT Offshore Partners by 23.8% in the fourth quarter. TCW Group Inc. now owns 66,100 shares of the shipping company’s stock worth $1,560,000 after buying an additional 12,700 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of KNOT Offshore Partners by 7.9% in the fourth quarter. Guggenheim Capital LLC now owns 82,827 shares of the shipping company’s stock worth $1,955,000 after buying an additional 6,085 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of KNOT Offshore Partners by 11.9% in the fourth quarter. Renaissance Technologies LLC now owns 88,056 shares of the shipping company’s stock worth $2,078,000 after buying an additional 9,356 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of KNOT Offshore Partners LP (NYSE:KNOP) traded up 0.90% during midday trading on Friday, hitting $22.50. The company’s stock had a trading volume of 56,365 shares. The firm has a market cap of $624.42 million, a P/E ratio of 10.22 and a beta of 0.83. KNOT Offshore Partners LP has a 52-week low of $16.56 and a 52-week high of $24.67. The stock’s 50 day moving average is $22.98 and its 200-day moving average is $22.29.
KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Wednesday, February 15th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.19. The firm had revenue of $45 million during the quarter, compared to analyst estimates of $43.53 million. KNOT Offshore Partners had a net margin of 34.56% and a return on equity of 10.29%. Equities analysts predict that KNOT Offshore Partners LP will post $2.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Tuesday, May 2nd were given a dividend of $0.52 per share. The ex-dividend date was Friday, April 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 9.33%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 76.19%.
KNOP has been the topic of a number of analyst reports. TheStreet raised KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Thursday, February 16th. Zacks Investment Research raised KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, February 17th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. KNOT Offshore Partners presently has a consensus rating of “Hold” and a consensus target price of $21.67.
About KNOT Offshore Partners
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
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