KNOT Offshore Partners LP (KNOP) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $19 . RBC Capital Mkts advised their investors in a research report released on May 17, 2016.
Many Wall Street Analysts have commented on KNOT Offshore Partners LP. Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 17 from a previous price target of $16 .Company shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 19 from a previous price target of $17 .
KNOT Offshore Partners LP opened for trading at $18.17 and hit $18.53 on the upside on Monday, eventually ending the session at $18.2, with a gain of 1.05% or 0.19 points. The heightened volatility saw the trading volume jump to 37,275 shares. Company has a market cap of $495 M.
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership) owns and operates shuttle tankers under long-term charters. The Partnership’s primary business objective is to increase quarterly distributions per unit over time by growing its business through accretive acquisitions of shuttle tankers and by chartering the vessels pursuant to long-term charters with customers that generate long-term stable cash flows. The Partnership’s eight shuttle tankers include Fortaleza Knutsen Recife Knutsen Bodil Knutsen Windsor Knutsen Carmen Knutsen Hilda Knutsen Torill Knutsen and Dan Cisne. The Partnership has the right to purchase vessels from KNOT in Ingrid Knutsen and Raquel Knutsen. During the fiscal year ended December 31 2014 its customers Transpetro ENI Statoil Repsol BG Group and KNOT accounted for approximately 23% 21% 20% 18% 11% and 7% respectively of its revenues. KNOT Offshore Partners GP LLC is the general partner of the Partnership.