KNOT Offshore Partners LP (KNOP) To Go Ex-Dividend on October 26th

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Thursday, October 1st. Investors of record on Monday, October 26th will be given a dividend of $0.10 per share by the shipping company on Thursday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, October 26th. This is a 33.3% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.0750.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect KNOT Offshore Partners to earn $0.19 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 157.9%.

KNOT Offshore Partners Price Performance

NYSE:KNOP opened at $10.56 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 1.10. The stock’s 50 day moving average price is $10.79 and its two-hundred day moving average price is $10.60. The firm has a market capitalization of $355.38 million, a price-to-earnings ratio of 24.00 and a beta of -0.02. KNOT Offshore Partners has a 12-month low of $8.00 and a 12-month high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share for the quarter. The business had revenue of $96.78 million for the quarter. KNOT Offshore Partners had a return on equity of 5.73% and a net margin of 3.90%. On average, analysts anticipate that KNOT Offshore Partners will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On KNOT Offshore Partners

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new position in shares of KNOT Offshore Partners during the first quarter worth approximately $25,000. Fifth Lane Capital LP acquired a new position in KNOT Offshore Partners during the 4th quarter valued at about $167,000. ING Groep NV bought a new stake in KNOT Offshore Partners during the 4th quarter worth approximately $205,000. Walleye Capital LLC bought a new position in shares of KNOT Offshore Partners in the first quarter valued at approximately $259,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of KNOT Offshore Partners during the first quarter valued at approximately $643,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (NYSE:KNOP) is a publicly traded master limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities, such as floating production, storage and offloading units, to onshore terminals, refineries, or other destinations.

The partnership’s fleet is primarily employed under long-term charter contracts with energy companies and offshore producers. Its shuttle tankers are designed for repeated loading and transportation of crude oil in offshore environments and may use dynamic positioning and other specialized systems to safely connect with production and storage vessels.

KNOT Offshore Partners was established in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a company associated with the Knutsen shipping group and NYK Line.