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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, October 28th.

KNOT Offshore Partners has decreased its dividend payment by an average of 63.2% per year over the last three years. KNOT Offshore Partners has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Research 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 1.0 %

Shares of NYSE KNOP opened at $6.35 on Friday. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The stock has a market cap of $217.81 million, a P/E ratio of 127.00 and a beta of 0.75. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.57. The business’s fifty day simple moving average is $6.75 and its 200-day simple moving average is $6.66.

KNOT Offshore Partners (NYSE:KNOP) last announced 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). KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. The company had revenue of $74.42 million during the quarter, compared to analysts’ expectations of $69.84 million. During the same quarter in the previous year, the business posted $0.27 EPS. As a group, equities analysts predict that KNOT Offshore Partners will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

KNOT Offshore Partners Company Profile

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.