KNOT Offshore Partners LP (NYSE:KNOP) Declares $0.03 Quarterly Dividend

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Wednesday, October 9th, Zacks reports. Shareholders of record on Monday, October 28th will be given a dividend of 0.026 per share by the shipping company on Thursday, November 7th. This represents a $0.10 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, October 28th.

KNOT Offshore Partners has decreased its dividend payment by an average of 63.2% annually over the last three years. KNOT Offshore Partners has a payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Analysts expect KNOT Offshore Partners to earn $0.50 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 20.0%.

KNOT Offshore Partners Stock Up 0.6 %

Shares of KNOP opened at $6.54 on Friday. The stock has a fifty day simple moving average of $6.87 and a two-hundred day simple moving average of $6.56. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $222.62 million, a PE ratio of 130.80 and a beta of 0.75. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The firm had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts forecast that KNOT Offshore Partners will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.