Naples Global Advisors LLC grew its holdings in KNOT Offshore Partners LP (NYSE:KNOP) by 3.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 34,380 shares of the shipping company’s stock after buying an additional 1,175 shares during the period. Naples Global Advisors LLC owned 0.11% of KNOT Offshore Partners worth $653,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Taylor Frigon Capital Management LLC raised its holdings in KNOT Offshore Partners by 1.7% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 39,370 shares of the shipping company’s stock worth $706,000 after purchasing an additional 644 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at approximately $36,000. IFP Advisors Inc acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at approximately $74,000. Stifel Financial Corp acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at approximately $197,000. Finally, Northern Trust Corp grew its position in shares of KNOT Offshore Partners by 79.1% in the fourth quarter. Northern Trust Corp now owns 25,621 shares of the shipping company’s stock valued at $459,000 after purchasing an additional 11,318 shares during the last quarter. 40.85% of the stock is owned by institutional investors and hedge funds.
NYSE KNOP traded down $0.13 during mid-day trading on Wednesday, reaching $19.67. 57,466 shares of the stock were exchanged, compared to its average volume of 113,012. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.39 and a current ratio of 0.41. The firm has a market cap of $643.42 million, a P/E ratio of 7.84 and a beta of 0.60. KNOT Offshore Partners LP has a 1-year low of $17.18 and a 1-year high of $22.75.
KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.35). KNOT Offshore Partners had a return on equity of 12.64% and a net margin of 29.40%. The company had revenue of $70.93 million for the quarter, compared to analysts’ expectations of $70.14 million.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, May 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.57%. The ex-dividend date was Wednesday, May 1st. KNOT Offshore Partners’s dividend payout ratio is presently 82.87%.
Several research firms have recently commented on KNOP. Barclays reiterated a “hold” rating and issued a $20.00 price target on shares of KNOT Offshore Partners in a research report on Monday, March 18th. Zacks Investment Research lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Thursday, March 14th.
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KNOT Offshore Partners Company 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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