Kayne Anderson Capital Advisors LP increased its stake in shares of KNOT Offshore Partners LP (NYSE:KNOP) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,465,263 shares of the shipping company’s stock after buying an additional 41,600 shares during the quarter. KNOT Offshore Partners accounts for 0.8% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 26th largest holding. Kayne Anderson Capital Advisors LP owned 7.54% of KNOT Offshore Partners worth $47,059,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Invesco Ltd. lifted its position in shares of KNOT Offshore Partners by 2,973.3% during the 2nd quarter. Invesco Ltd. now owns 1,842,496 shares of the shipping company’s stock valued at $35,173,000 after buying an additional 1,782,545 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of KNOT Offshore Partners during the 2nd quarter valued at $10,271,000. Renaissance Technologies LLC lifted its position in shares of KNOT Offshore Partners by 38.2% during the 2nd quarter. Renaissance Technologies LLC now owns 505,800 shares of the shipping company’s stock valued at $9,656,000 after buying an additional 139,700 shares during the last quarter. First Trust Advisors LP lifted its position in shares of KNOT Offshore Partners by 7.7% during the 3rd quarter. First Trust Advisors LP now owns 362,108 shares of the shipping company’s stock valued at $6,913,000 after buying an additional 25,902 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of KNOT Offshore Partners by 11.3% during the 2nd quarter. Morgan Stanley now owns 349,532 shares of the shipping company’s stock valued at $6,673,000 after buying an additional 35,383 shares during the last quarter. Hedge funds and other institutional investors own 34.93% of the company’s stock.
A number of research analysts have recently commented on the company. BTIG Research assumed coverage on KNOT Offshore Partners in a research report on Monday, October 21st. They set a “buy” rating and a $24.00 price target on the stock. TheStreet cut KNOT Offshore Partners from a “c” rating to a “d+” rating in a research report on Wednesday, September 11th. Barclays dropped their price target on KNOT Offshore Partners from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Zacks Investment Research raised KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. KNOT Offshore Partners has an average rating of “Hold” and a consensus target price of $21.67.
Shares of NYSE KNOP traded down $0.03 during trading on Friday, reaching $19.09. 55,482 shares of the stock traded hands, compared to its average volume of 94,530. KNOT Offshore Partners LP has a 52-week low of $17.18 and a 52-week high of $20.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.49 and a quick ratio of 0.47. The company has a 50-day moving average of $19.33 and a 200-day moving average of $19.26. The stock has a market capitalization of $623.76 million, a P/E ratio of 12.57 and a beta of 0.55.
KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $70.92 million for the quarter, compared to analysts’ expectations of $70.10 million. KNOT Offshore Partners had a return on equity of 7.95% and a net margin of 17.94%.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $2.08 dividend on an annualized basis and a yield of 10.90%.
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 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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