KNOT Offshore Partners (KNOP) Plans Quarterly Dividend of $0.52

KNOT Offshore Partners (NYSE:KNOP) declared a quarterly dividend on Monday, April 16th, Zacks reports. Shareholders of record on Wednesday, May 2nd will be given a dividend of 0.52 per share by the shipping company on Tuesday, May 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date is Tuesday, May 1st.

KNOT Offshore Partners has increased its dividend payment by an average of 5.0% annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 99.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect KNOT Offshore Partners to earn $2.19 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 95.0%.

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KNOP stock opened at $20.70 on Tuesday. KNOT Offshore Partners has a one year low of $19.15 and a one year high of $24.42. The company has a current ratio of 0.46, a quick ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $658.79, a PE ratio of 9.16 and a beta of 0.68.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The company had revenue of $61.59 million for the quarter, compared to the consensus estimate of $58.69 million. KNOT Offshore Partners had a net margin of 31.05% and a return on equity of 10.92%. equities research analysts predict that KNOT Offshore Partners will post 2.29 EPS for the current year.

A number of research analysts have weighed in on KNOP shares. Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a report on Wednesday, February 21st. Citigroup cut their price target on shares of KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 28th. Finally, ValuEngine cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. KNOT Offshore Partners has a consensus rating of “Hold” and an average price target of $21.00.

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KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.

Dividend History for KNOT Offshore Partners (NYSE:KNOP)

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