Belpointe Asset Management LLC purchased a new stake in KNOT Offshore Partners LP (NYSE:KNOP – Get Rating) during the 4th quarter, Holdings Channel.com reports. The fund purchased 7,846 shares of the shipping company’s stock, valued at approximately $76,000.
Other hedge funds also recently made changes to their positions in the company. Naples Global Advisors LLC increased its stake in KNOT Offshore Partners by 40.2% in the fourth quarter. Naples Global Advisors LLC now owns 84,110 shares of the shipping company’s stock valued at $810,000 after acquiring an additional 24,128 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in KNOT Offshore Partners by 17.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 11,810 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 1,730 shares in the last quarter. Arrow Investment Advisors LLC bought a new stake in shares of KNOT Offshore Partners in the 3rd quarter valued at approximately $167,000. Cubist Systematic Strategies LLC acquired a new position in shares of KNOT Offshore Partners in the 3rd quarter worth approximately $182,000. Finally, UBS Group AG lifted its position in shares of KNOT Offshore Partners by 847.7% during the 3rd quarter. UBS Group AG now owns 6,899 shares of the shipping company’s stock worth $97,000 after buying an additional 6,171 shares during the period. Institutional investors and hedge funds own 15.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on KNOP. StockNews.com lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Wednesday. Alliance Global Partners upgraded shares of KNOT Offshore Partners from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 1st. Finally, TheStreet downgraded shares of KNOT Offshore Partners from a “c-” rating to a “d+” rating in a report on Monday, April 17th.
KNOT Offshore Partners Trading Up 1.3 %
KNOT Offshore Partners (NYSE:KNOP – Get Rating) last announced its earnings results on Tuesday, March 14th. The shipping company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $71.61 million during the quarter, compared to analyst estimates of $68.70 million. KNOT Offshore Partners had a net margin of 21.84% and a return on equity of 10.07%. Analysts predict that KNOT Offshore Partners LP will post 0.47 EPS for the current fiscal year.
KNOT Offshore Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Thursday, April 27th were given a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 2.14%. The ex-dividend date was Wednesday, April 26th. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 5.78%.
About KNOT Offshore Partners
KNOT Offshore Partners LP is engages in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.
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