KNOT Offshore Partners LP (NYSE:KNOP) Stock Has Average Target Price of $14.00

KNOT Offshore Partners LP (NYSE:KNOP) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.00.

KNOP has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, July 29th. Wall Street Zen raised KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Finally, Zacks Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th.

Institutional Trading of KNOT Offshore Partners

Several institutional investors and hedge funds have recently bought and sold shares of KNOP. American Beacon Advisors Inc. boosted its stake in shares of KNOT Offshore Partners by 71.8% during the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock worth $8,638,000 after acquiring an additional 361,659 shares in the last quarter. Royal Bank of Canada bought a new position in KNOT Offshore Partners in the first quarter worth $25,000. Renaissance Technologies LLC raised its position in KNOT Offshore Partners by 8.8% in the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock worth $13,461,000 after purchasing an additional 108,400 shares in the last quarter. Walleye Capital LLC bought a new position in shares of KNOT Offshore Partners during the 1st quarter worth approximately $259,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at $643,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

KNOT Offshore Partners Trading Down 1.0%

Shares of KNOT Offshore Partners stock opened at $10.28 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.33 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $10.78 and a 200-day simple moving average of $10.61. The stock has a market cap of $345.89 million, a price-to-earnings ratio of 23.36 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 announced its earnings results on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. KNOT Offshore Partners had a return on equity of 5.73% and a net margin of 3.90%. The firm had revenue of $96.78 million during the quarter. On average, equities analysts forecast that KNOT Offshore Partners will post 0.22 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 26th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, October 26th. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.0750. KNOT Offshore Partners’s dividend payout ratio (DPR) is 68.18%.

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 to onshore terminals, refineries, or other designated locations, providing an essential link in the offshore oil supply chain.

The partnership typically places its vessels under long-term or medium-term charter contracts with energy companies and offshore producers. Its fleet is designed for shuttle-tanker operations, which can include dynamically positioning near offshore installations and repeatedly transporting crude oil between production sites and receiving terminals.

KNOT Offshore Partners was formed in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a joint venture associated with Knutsen OAS Shipping and NYK Line.