KNOT Offshore Partners (NYSE:KNOP) announced a quarterly dividend on Monday, April 16th, Zacks reports. Shareholders of record on Wednesday, May 2nd will be paid a dividend of 0.52 per share by the shipping company on Tuesday, May 15th. This represents a $2.08 annualized dividend and a dividend yield of 10.05%. The ex-dividend date of this dividend is Tuesday, May 1st.

KNOT Offshore Partners has raised its dividend by an average of 5.0% per year over the last three years. KNOT Offshore Partners has a payout ratio of 99.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect KNOT Offshore Partners to earn $2.19 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 95.0%.

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Shares of NYSE KNOP opened at $20.70 on Tuesday. The firm has a market cap of $658.79, a price-to-earnings ratio of 9.16 and a beta of 0.68. KNOT Offshore Partners has a one year low of $19.15 and a one year high of $24.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.44 and a current ratio of 0.46.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Tuesday, February 20th. The shipping company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $61.59 million for the quarter, compared to analyst estimates of $58.69 million. KNOT Offshore Partners had a net margin of 31.05% and a return on equity of 10.92%. analysts forecast that KNOT Offshore Partners will post 2.29 EPS for the current year.

Several brokerages have commented on KNOP. Citigroup decreased their target price on shares of KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 28th. Zacks Investment Research lowered shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Wednesday, February 21st. Finally, ValuEngine lowered shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. KNOT Offshore Partners has an average rating of “Hold” and a consensus price target of $21.00.

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About KNOT Offshore Partners

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.

Dividend History for KNOT Offshore Partners (NYSE:KNOP)

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