Mckinley Capital Management LLC Delaware boosted its position in KNOT Offshore Partners LP (NYSE:KNOP) by 64.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,652 shares of the shipping company’s stock after acquiring an additional 24,247 shares during the quarter. Mckinley Capital Management LLC Delaware owned 0.19% of KNOT Offshore Partners worth $1,338,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ballentine Partners LLC grew its stake in shares of KNOT Offshore Partners by 72.5% during the third quarter. Ballentine Partners LLC now owns 39,618 shares of the shipping company’s stock worth $859,000 after purchasing an additional 16,650 shares during the period. Russell Investments Group Ltd. acquired a new position in KNOT Offshore Partners in the third quarter valued at about $161,000. First Trust Advisors LP grew its stake in KNOT Offshore Partners by 32.2% in the third quarter. First Trust Advisors LP now owns 298,317 shares of the shipping company’s stock valued at $6,473,000 after acquiring an additional 72,588 shares during the period. California Public Employees Retirement System grew its stake in KNOT Offshore Partners by 8.1% in the second quarter. California Public Employees Retirement System now owns 39,640 shares of the shipping company’s stock valued at $878,000 after acquiring an additional 2,954 shares during the period. Finally, Van ECK Associates Corp grew its stake in KNOT Offshore Partners by 10.9% in the second 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 period. 40.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on KNOP shares. Zacks Investment Research raised KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Saturday, September 8th. ValuEngine raised KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th.

NYSE:KNOP traded down $0.34 on Friday, reaching $19.77. The company’s stock had a trading volume of 126,718 shares, compared to its average volume of 87,580. KNOT Offshore Partners LP has a 1-year low of $19.15 and a 1-year high of $22.75. The company has a current ratio of 0.51, a quick ratio of 0.50 and a debt-to-equity ratio of 1.53. The stock has a market cap of $657.48 million, a price-to-earnings ratio of 8.75 and a beta of 0.49.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Monday, November 26th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. KNOT Offshore Partners had a return on equity of 14.16% and a net margin of 34.05%. The firm had revenue of $70.72 million during the quarter, compared to analysts’ expectations of $70.03 million. Sell-side analysts forecast that KNOT Offshore Partners LP will post 2.71 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Thursday, November 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.52%. KNOT Offshore Partners’s dividend payout ratio (DPR) is 92.04%.

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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 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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Institutional Ownership by Quarter for KNOT Offshore Partners (NYSE:KNOP)

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