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

KNOT Offshore Partners LP (NYSE:KNOP) declared a quarterly dividend on Wednesday, October 9th, Zacks reports. Stockholders 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 1.61%. The ex-dividend date of this dividend is Monday, October 28th.

KNOT Offshore Partners has decreased its dividend by an average of 63.2% per year over the last three years. KNOT Offshore Partners has a payout ratio of 23.8% indicating that 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 Trading Down 0.9 %

KNOP traded down $0.06 during trading on Thursday, reaching $6.44. 2,565 shares of the company’s stock were exchanged, compared to its average volume of 91,933. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.57. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The firm has a fifty day moving average price of $6.88 and a two-hundred day moving average price of $6.56. The stock has a market capitalization of $219.25 million, a PE ratio of -8.36 and a beta of 0.75.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results 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 during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.27 EPS. As a group, equities research analysts forecast that KNOT Offshore Partners will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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