California Public Employees Retirement System boosted its holdings in KNOT Offshore Partners LP (NYSE:KNOP) by 8.1% in the second quarter, Holdings Channel reports. The institutional investor owned 39,640 shares of the shipping company’s stock after buying an additional 2,954 shares during the period. California Public Employees Retirement System’s holdings in KNOT Offshore Partners were worth $878,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of KNOP. Van ECK Associates Corp raised its holdings in KNOT Offshore Partners by 10.9% in the 2nd quarter. Van ECK Associates Corp now owns 154,349 shares of the shipping company’s stock valued at $3,419,000 after acquiring an additional 15,140 shares during the last quarter. Renaissance Technologies LLC raised its holdings in KNOT Offshore Partners by 94.9% in the 2nd quarter. Renaissance Technologies LLC now owns 243,100 shares of the shipping company’s stock valued at $5,385,000 after acquiring an additional 118,400 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of KNOT Offshore Partners by 1.0% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,018,663 shares of the shipping company’s stock worth $44,712,000 after buying an additional 20,000 shares during the last quarter. Taylor Frigon Capital Management LLC acquired a new stake in shares of KNOT Offshore Partners during the 2nd quarter worth $813,000. Finally, Eagle Global Advisors LLC increased its holdings in shares of KNOT Offshore Partners by 13.6% during the 2nd quarter. Eagle Global Advisors LLC now owns 2,291,332 shares of the shipping company’s stock worth $50,753,000 after buying an additional 274,835 shares during the last quarter. Institutional investors and hedge funds own 40.40% of the company’s stock.
A number of analysts have recently commented on KNOP shares. ValuEngine downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Zacks Investment Research upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Saturday, September 8th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.50.
KNOP stock opened at $20.51 on Friday. The firm has a market cap of $666.96 million, a PE ratio of 9.08 and a beta of 0.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.52 and a quick ratio of 0.50. KNOT Offshore Partners LP has a 52 week low of $19.15 and a 52 week high of $22.75.
KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Tuesday, September 4th. The shipping company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. The business had revenue of $69.77 million during the quarter, compared to the consensus estimate of $67.77 million. KNOT Offshore Partners had a return on equity of 14.64% and a net margin of 35.76%. On average, analysts forecast that KNOT Offshore Partners LP will post 2.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.14%. KNOT Offshore Partners’s payout ratio is 92.04%.
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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 loading, transportation and storage of their crude oil services under time charters and bareboat charters. As of April 25, 2018, 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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