TheStreet lowered shares of KNOT Offshore Partners LP (NYSE:KNOP) from a b- rating to a c rating in a research report sent to investors on Wednesday morning.

Separately, Zacks Investment Research lowered KNOT Offshore Partners from a buy rating to a hold rating in a research report on Wednesday, January 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $21.75.

KNOT Offshore Partners (NYSE:KNOP) traded up 0.22% on Wednesday, hitting $23.20. 27,703 shares of the stock were exchanged. KNOT Offshore Partners has a one year low of $16.56 and a one year high of $24.67. The company’s 50 day moving average price is $22.47 and its 200-day moving average price is $21.90. The company has a market cap of $643.85 million, a P/E ratio of 10.54 and a beta of 0.83.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Wednesday, February 15th. The shipping company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.19. The firm earned $45 million during the quarter, compared to analyst estimates of $43.53 million. KNOT Offshore Partners had a return on equity of 10.29% and a net margin of 34.56%. Equities research analysts predict that KNOT Offshore Partners will post $1.97 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Tuesday, May 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date of this dividend is Friday, April 28th. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 76.19%.

Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of KNOT Offshore Partners by 2.4% in the third quarter. Acrospire Investment Management LLC now owns 8,377 shares of the shipping company’s stock worth $175,000 after buying an additional 200 shares during the last quarter. TCW Group Inc. raised its stake in shares of KNOT Offshore Partners by 23.8% in the fourth quarter. TCW Group Inc. now owns 66,100 shares of the shipping company’s stock worth $1,560,000 after buying an additional 12,700 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of KNOT Offshore Partners by 7.9% in the fourth quarter. Guggenheim Capital LLC now owns 82,827 shares of the shipping company’s stock worth $1,955,000 after buying an additional 6,085 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of KNOT Offshore Partners by 11.9% in the fourth quarter. Renaissance Technologies LLC now owns 88,056 shares of the shipping company’s stock worth $2,078,000 after buying an additional 9,356 shares during the last quarter. Finally, Green Square Capital LLC raised its stake in shares of KNOT Offshore Partners by 3.4% in the third quarter. Green Square Capital LLC now owns 318,831 shares of the shipping company’s stock worth $6,660,000 after buying an additional 10,374 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.

5 Day Chart for NYSE:KNOP

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