Tsakos Energy Navigation Ltd. (NYSE:TNP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

According to Zacks, “Tsakos Energy Navigation is a leading provider of international seaborne crude oil and petroleum product transportation services. It was incorporated in 1993 as an exempted company under the laws of Bermuda under the name Maritime Investment Fund Limited. In 1996, Maritime Investment Fund Limited was renamed MIF Limited. Their common shares were listed in 1993 on the Oslo Stock Exchange and the Bermuda Stock Exchange although they delisted from the OSE in March 2005 due to limited trading. The Company’s shares are no longer actively traded on the Bermuda exchange. In July 2001, the Company’s name was changed to Tsakos Energy Navigation to enhance their brand recognition in the tanker industry, particularly among charterers. “

A number of other analysts have also recently commented on the company. Jefferies Group set a $7.00 price target on Tsakos Energy Navigation and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Morgan Stanley reissued an “overweight” rating and issued a $6.50 price objective (down previously from $8.00) on shares of Tsakos Energy Navigation in a report on Friday, August 26th. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of Tsakos Energy Navigation in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Tsakos Energy Navigation presently has a consensus rating of “Buy” and an average target price of $8.65.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

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Tsakos Energy Navigation (NYSE:TNP) opened at 4.91 on Wednesday. The company has a market capitalization of $419.85 million, a price-to-earnings ratio of 4.02 and a beta of 1.89. Tsakos Energy Navigation has a 52 week low of $4.48 and a 52 week high of $9.63. The company’s 50-day moving average price is $4.97 and its 200-day moving average price is $5.59.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. Tsakos Energy Navigation had a return on equity of 8.60% and a net margin of 23.06%. The company earned $119.85 million during the quarter. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was down 22.1% compared to the same quarter last year. Equities analysts forecast that Tsakos Energy Navigation will post $0.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, November 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.32 annualized dividend and a dividend yield of 6.52%. Tsakos Energy Navigation’s dividend payout ratio is presently 26.02%.

Institutional investors have recently made changes to their positions in the stock. WealthTrust Axiom LLC raised its position in shares of Tsakos Energy Navigation by 12.4% in the second quarter. WealthTrust Axiom LLC now owns 206,233 shares of the company’s stock valued at $967,000 after buying an additional 22,673 shares in the last quarter. Smith Asset Management Group LP raised its position in shares of Tsakos Energy Navigation by 10.0% in the second quarter. Smith Asset Management Group LP now owns 129,580 shares of the company’s stock valued at $608,000 after buying an additional 11,790 shares in the last quarter. Creative Planning raised its position in shares of Tsakos Energy Navigation by 10.4% in the second quarter. Creative Planning now owns 26,500 shares of the company’s stock valued at $124,000 after buying an additional 2,500 shares in the last quarter. Foundation Resource Management Inc. raised its position in shares of Tsakos Energy Navigation by 0.3% in the second quarter. Foundation Resource Management Inc. now owns 591,985 shares of the company’s stock valued at $2,776,000 after buying an additional 1,996 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Tsakos Energy Navigation by 1,471.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,063 shares of the company’s stock valued at $167,000 after buying an additional 25,341 shares in the last quarter. Hedge funds and other institutional investors own 31.29% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 50 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

5 Day Chart for NYSE:TNP

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