Fintel reports that on May 30, 2023, Alliance Global Partners upgraded their outlook for KNOT Offshore Partners LP - Unit (NYSE:KNOP) from Neutral to Buy .
Analyst Price Forecast Suggests 123.13% Upside
As of May 11, 2023, the average one-year price target for KNOT Offshore Partners LP - Unit is 10.71. The forecasts range from a low of 6.06 to a high of $15.75. The average price target represents an increase of 123.13% from its latest reported closing price of 4.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for KNOT Offshore Partners LP - Unit is 277MM, an increase of 3.24%. The projected annual non-GAAP EPS is 0.61.
KNOT Offshore Partners LP - Unit Declares $0.03 Dividend
On April 13, 2023 the company declared a regular quarterly dividend of $0.03 per share ($0.10 annualized). Shareholders of record as of April 27, 2023 received the payment on May 11, 2023. Previously, the company paid $0.03 per share.
At the current share price of $4.80 / share, the stock's dividend yield is 2.17%.
Looking back five years and taking a sample every week, the average dividend yield has been 12.64%, the lowest has been 1.92%, and the highest has been 37.75%. The standard deviation of yields is 4.99 (n=237).
The current dividend yield is 2.10 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.95%.
What is the Fund Sentiment?
There are 57 funds or institutions reporting positions in KNOT Offshore Partners LP - Unit. This is a decrease of 3 owner(s) or 5.00% in the last quarter. Average portfolio weight of all funds dedicated to KNOP is 0.07%, a decrease of 18.82%. Total shares owned by institutions increased in the last three months by 5.75% to 7,420K shares. 
The put/call ratio of KNOP is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
MLPRX - Invesco Oppenheimer SteelPath MLP Income Fund Class C holds 1,777K shares representing 5.09% ownership of the company. No change in the last quarter.
Invesco holds 1,777K shares representing 5.09% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 1,249K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 1,128K shares, representing an increase of 9.65%. The firm decreased its portfolio allocation in KNOP by 40.25% over the last quarter.
DIV - Global X SuperDividend U.S. ETF holds 1,005K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 996K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in KNOP by 61.95% over the last quarter.
683 Capital Management holds 775K shares representing 2.22% ownership of the company.
KNOT Offshore Partners Background Information
(This description is provided by the company.)
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
