Duff & Phelps Investment Management Co. cut its stake in shares of KNOT Offshore Partners LP (NYSE:KNOP) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,000 shares of the shipping company’s stock after selling 25,000 shares during the period. Duff & Phelps Investment Management Co.’s holdings in KNOT Offshore Partners were worth $3,169,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KNOP. Kayne Anderson Capital Advisors LP lifted its position in KNOT Offshore Partners by 29.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock valued at $45,121,000 after purchasing an additional 547,500 shares in the last quarter. First Trust Advisors LP lifted its position in KNOT Offshore Partners by 23.3% during the first quarter. First Trust Advisors LP now owns 416,473 shares of the shipping company’s stock valued at $7,909,000 after purchasing an additional 78,634 shares in the last quarter. Deutsche Bank AG lifted its position in KNOT Offshore Partners by 338.2% during the fourth quarter. Deutsche Bank AG now owns 20,900 shares of the shipping company’s stock valued at $374,000 after purchasing an additional 16,131 shares in the last quarter. AJO LP purchased a new position in KNOT Offshore Partners during the first quarter valued at $279,000. Finally, Millennium Management LLC purchased a new position in KNOT Offshore Partners during the fourth quarter valued at $257,000. Institutional investors own 34.53% of the company’s stock.
Several equities analysts recently weighed in on KNOP shares. TheStreet downgraded KNOT Offshore Partners from a “b-” rating to a “c” rating in a research report on Tuesday, May 28th. Zacks Investment Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 24th.
Shares of KNOT Offshore Partners stock traded up $0.34 during trading hours on Friday, hitting $18.75. The company’s stock had a trading volume of 60,700 shares, compared to its average volume of 101,153. The business has a 50 day moving average price of $19.37 and a two-hundred day moving average price of $19.16. KNOT Offshore Partners LP has a 12-month low of $17.18 and a 12-month high of $22.60. The company has a market cap of $612.94 million, a PE ratio of 7.47 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.40 and a current ratio of 0.42.
KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Thursday, May 23rd. The shipping company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.29). KNOT Offshore Partners had a net margin of 22.81% and a return on equity of 9.95%. The business had revenue of $70.55 million during the quarter, compared to analysts’ expectations of $69.84 million.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, July 26th were given a $0.52 dividend. The ex-dividend date was Thursday, July 25th. This represents a $2.08 annualized dividend and a dividend yield of 11.09%. KNOT Offshore Partners’s payout ratio is 82.87%.
KNOT Offshore Partners Profile
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.
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