KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, July 18th, Wall Street Journal reports. Stockholders of record on Wednesday, August 2nd will be given a dividend of 0.52 per share by the shipping company on Tuesday, August 15th. This represents a $2.08 annualized dividend and a dividend yield of 9.18%. The ex-dividend date of this dividend is Monday, July 31st.
KNOT Offshore Partners has increased its dividend payment by an average of 40.4% per year over the last three years and has raised its dividend every year for the last 3 years. KNOT Offshore Partners has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect KNOT Offshore Partners to earn $2.14 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 97.2%.
KNOT Offshore Partners (KNOP) traded up 1.57% during mid-day trading on Friday, hitting $22.65. 43,394 shares of the stock traded hands. The firm’s 50-day moving average price is $23.04 and its 200-day moving average price is $22.57. KNOT Offshore Partners has a 52 week low of $18.17 and a 52 week high of $24.67. The firm has a market cap of $679.57 million, a P/E ratio of 10.37 and a beta of 0.78.
Several brokerages have recently commented on KNOP. TheStreet cut shares of KNOT Offshore Partners from a “b-” rating to a “c” rating in a research report on Wednesday, April 19th. Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.33.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
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