KNOT Offshore Partners LP to Issue Quarterly Dividend of $0.03 (NYSE:KNOP)

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Wednesday, October 9th, Zacks reports. Investors 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 1.64%. The ex-dividend date is Monday, October 28th.

KNOT Offshore Partners has decreased its dividend 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. Equities 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 %

KNOP stock opened at $6.35 on Friday. The company has a market cap of $217.81 million, a P/E ratio of 127.00 and a beta of 0.75. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11. The stock’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $6.65. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The company had revenue of $74.42 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.27 earnings per share. On average, research analysts expect that KNOT Offshore Partners will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note 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.