Raymond James & Associates reduced its stake in KNOT Offshore Partners LP (NYSE:KNOP – Get Rating) by 56.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,871 shares of the shipping company's stock after selling 29,209 shares during the period. Raymond James & Associates owned approximately 0.07% of KNOT Offshore Partners worth $320,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in KNOP. AE Wealth Management LLC bought a new position in shares of KNOT Offshore Partners in the second quarter worth $416,000. F&V Capital Management LLC acquired a new position in shares of KNOT Offshore Partners in the 3rd quarter valued at approximately $196,000. LPL Financial LLC lifted its holdings in shares of KNOT Offshore Partners by 15.7% during the 2nd quarter. LPL Financial LLC now owns 32,244 shares of the shipping company's stock worth $528,000 after acquiring an additional 4,374 shares during the period. Naples Global Advisors LLC raised its position in KNOT Offshore Partners by 6.9% during the second quarter. Naples Global Advisors LLC now owns 57,578 shares of the shipping company's stock valued at $943,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in KNOT Offshore Partners by 14.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 28,994 shares of the shipping company's stock worth $475,000 after purchasing an additional 3,645 shares during the last quarter. 15.93% of the stock is currently owned by institutional investors.
Get KNOT Offshore Partners alerts:Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. StockNews.com began coverage on KNOT Offshore Partners in a report on Wednesday, October 12th. They set a "buy" rating for the company. Alliance Global Partners raised KNOT Offshore Partners from a "sell" rating to a "neutral" rating in a research note on Wednesday. Finally, B. Riley reduced their price target on shares of KNOT Offshore Partners from $22.00 to $15.00 in a research note on Friday, January 6th.
KNOT Offshore Partners Price Performance
Shares of KNOP opened at $6.12 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.22 and a debt-to-equity ratio of 1.25. The stock has a market cap of $207.84 million, a PE ratio of 2.76 and a beta of 0.89. KNOT Offshore Partners LP has a 12-month low of $5.37 and a 12-month high of $18.85. The business has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $13.20.KNOT Offshore Partners (NYSE:KNOP – Get Rating) last issued its quarterly earnings data on Tuesday, November 29th. The shipping company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.29. KNOT Offshore Partners had a net margin of 28.16% and a return on equity of 12.18%. The business had revenue of $67.82 million during the quarter, compared to analyst estimates of $64.23 million. Analysts anticipate that KNOT Offshore Partners LP will post 1.71 earnings per share for the current fiscal year.
KNOT Offshore Partners Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Investors of record on Thursday, January 26th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $0.10 dividend on an annualized basis and a yield of 1.70%. KNOT Offshore Partners's payout ratio is 4.50%.
KNOT Offshore Partners Company Profile
(Get Rating)
KNOT Offshore Partners LP is engaged in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.
Featured Stories
- Get a free copy of the StockNews.com research report on KNOT Offshore Partners (KNOP)
- MarketBeat Week in Review – 1/30 – 2/3
- Are Penny Stocks Worth it? Should You Invest in Penny Stocks?
- Zimmer Biomet Beats on Earnings, Growth May be Priced In
- AI Software Maker EPAM Boasts Biggest Tech-Sector Rally
- Ford Stock Going Forward After Big Earnings Flop
Want to see what other hedge funds are holding KNOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KNOT Offshore Partners LP (NYSE:KNOP – Get Rating).
Receive News & Ratings for KNOT Offshore Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners and related companies with MarketBeat.com's FREE daily email newsletter.