KNOT Offshore Partners LP (NYSE:KNOP) to Issue Quarterly Dividend of $0.07

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Tuesday, July 7th. Stockholders of record on Monday, July 27th will be given a dividend of 0.075 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, July 27th. This is a 50.0% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.05.

KNOT Offshore Partners has decreased its dividend by an average of 0.5%per year over the last three years. KNOT Offshore Partners has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect KNOT Offshore Partners to earn ($0.18) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -111.1%.

KNOT Offshore Partners Stock Up 6.0%

Shares of NYSE KNOP traded up $0.62 during mid-day trading on Tuesday, reaching $10.97. The company had a trading volume of 113,300 shares, compared to its average volume of 109,005. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 0.25. KNOT Offshore Partners has a twelve month low of $6.76 and a twelve month high of $11.78. The stock’s 50 day moving average is $10.72 and its 200-day moving average is $10.48. The stock has a market capitalization of $369.32 million, a PE ratio of 20.32 and a beta of -0.05.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The firm had revenue of $92.01 million for the quarter, compared to analyst estimates of $90.35 million. As a group, equities analysts anticipate that KNOT Offshore Partners will post 0.14 earnings per share for the current fiscal year.

Insider Activity at KNOT Offshore Partners

In other news, Director Trygve Seglem purchased 1,250,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $20.00 per share, with a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 1,458,333 shares in the company, valued at $29,166,660. This trade represents a 600.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of hedge funds have recently bought and sold shares of KNOP. Royal Bank of Canada acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at about $25,000. Russell Investments Group Ltd. lifted its position in shares of KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after purchasing an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in KNOT Offshore Partners during the 2nd quarter valued at approximately $68,000. Osaic Holdings Inc. boosted its stake in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after purchasing an additional 11,388 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in KNOT Offshore Partners in the 4th quarter valued at approximately $125,000. 26.82% of the stock is currently owned by institutional investors.

About KNOT Offshore Partners

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.