KNOT Offshore Partners LP (NYSE:KNOP) Raises Dividend to $0.05 Per Share

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Tuesday, April 7th. Shareholders of record on Monday, April 27th will be paid a dividend of 0.05 per share by the shipping company on Thursday, May 14th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, April 27th. This is a 92.3% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%per year over the last three years. KNOT Offshore Partners has a dividend payout ratio of 10.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KNOT Offshore Partners to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 18.9%.

KNOT Offshore Partners Price Performance

NYSE KNOP traded down $0.23 during trading on Tuesday, hitting $10.05. 72,840 shares of the company’s stock were exchanged, compared to its average volume of 125,142. The company has a current ratio of 0.26, a quick ratio of 0.25 and a debt-to-equity ratio of 1.07. The company has a market cap of $342.29 million, a PE ratio of 14.79 and a beta of -0.10. KNOT Offshore Partners has a fifty-two week low of $5.45 and a fifty-two week high of $11.15. The stock’s 50 day moving average price is $10.34 and its two-hundred day moving average price is $9.99.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KNOP. B. Riley Financial raised KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Friday, March 20th. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Thursday, January 22nd. Wall Street Zen downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Zacks Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.00.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.