KNOT Offshore Partners LP (NYSE:KNOP) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of equities analysts recently weighed in on KNOP shares. Zacks Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th.

KNOT Offshore Partners Price Performance

Shares of NYSE:KNOP opened at $11.21 on Wednesday. KNOT Offshore Partners has a one year low of $8.00 and a one year high of $11.78. The stock has a fifty day moving average of $10.74 and a 200-day moving average of $10.58. The company has a market capitalization of $377.50 million, a PE ratio of 25.49 and a beta of -0.05. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.33 and a current ratio of 0.34.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) 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%. As a group, equities analysts anticipate that KNOT Offshore Partners will post 0.22 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 27th were given a $0.075 dividend. This is a boost from KNOT Offshore Partners’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, July 27th. This represents a $0.30 annualized dividend and a dividend yield of 2.7%. KNOT Offshore Partners’s payout ratio is currently 68.18%.

Institutional Trading of KNOT Offshore Partners

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new stake in shares of KNOT Offshore Partners in the first quarter worth $25,000. Fifth Lane Capital LP acquired a new position in KNOT Offshore Partners during the fourth quarter valued at $167,000. ING Groep NV purchased a new stake in KNOT Offshore Partners in the 4th quarter worth about $205,000. Walleye Capital LLC purchased a new stake in KNOT Offshore Partners in the 1st quarter worth about $259,000. Finally, Janney Montgomery Scott LLC acquired a new stake in KNOT Offshore Partners during the 1st quarter worth about $643,000. 26.82% of the stock is 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.