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

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Investors of record on Monday, October 28th will be paid a dividend of 0.026 per share by the shipping company on Thursday, November 7th. This represents a $0.10 annualized dividend and a 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% annually over the last three years. KNOT Offshore Partners has a dividend payout ratio of 23.8% indicating that 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 Performance

NYSE KNOP opened at $6.35 on Friday. The company has a fifty day moving average of $6.75 and a two-hundred day moving average of $6.66. The company has a market capitalization of $217.81 million, a PE ratio of 127.00 and a beta of 0.75. KNOT Offshore Partners has a 1 year low of $4.94 and a 1 year high of $9.11. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered 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.