KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Friday, October 13th, Wall Street Journal reports. Investors of record on Thursday, November 2nd will be given a dividend of 0.52 per share by the shipping company on Wednesday, November 15th. This represents a $2.08 dividend on an annualized basis and a yield of 8.87%. The ex-dividend date of this dividend is Wednesday, November 1st.
KNOT Offshore Partners has raised its dividend by an average of 40.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. KNOT Offshore Partners has a payout ratio of 98.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect KNOT Offshore Partners to earn $2.45 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 84.9%.
KNOT Offshore Partners (NYSE KNOP) traded up 0.64% during mid-day trading on Friday, reaching $23.60. The company had a trading volume of 29,783 shares. The company has a market capitalization of $713.95 million, a PE ratio of 10.73 and a beta of 0.77. The firm has a 50-day moving average of $23.41 and a 200 day moving average of $22.97. KNOT Offshore Partners has a 1-year low of $18.90 and a 1-year high of $24.67.
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Several research firms have recently issued reports on KNOP. BidaskClub lowered KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine lowered KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Zacks Investment Research lowered KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.
KNOT Offshore Partners Company Profile
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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