Tsakos Energy Navigation Ltd. (TNP) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) have received a consensus rating of “Buy” from the seven ratings firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.30.
Several equities research analysts have recently commented on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and set a $5.00 price target on shares of Tsakos Energy Navigation in a research report on Friday, March 17th. Maxim Group reiterated a “buy” rating and set a $7.00 price objective on shares of Tsakos Energy Navigation in a research note on Tuesday, March 21st. Jefferies Group LLC restated a “buy” rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Monday, April 24th. Finally, Zacks Investment Research downgraded Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Wednesday, February 1st.
Tsakos Energy Navigation (NYSE:TNP) traded down 0.66% during trading on Tuesday, reaching $4.55. 329,292 shares of the company traded hands. The firm has a market capitalization of $382.05 million, a price-to-earnings ratio of 12.01 and a beta of 1.87. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $6.53. The company’s 50-day moving average price is $4.68 and its 200 day moving average price is $4.70.
Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings results on Friday, May 12th. The shipping company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. Tsakos Energy Navigation had a net margin of 16.89% and a return on equity of 5.93%. The firm had revenue of $108.16 million during the quarter, compared to analyst estimates of $113.51 million. On average, equities research analysts expect that Tsakos Energy Navigation will post $0.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Tuesday, July 11th will be paid a $0.05 dividend. The ex-dividend date is Friday, July 7th. This represents a $0.20 annualized dividend and a yield of 4.37%. Tsakos Energy Navigation’s payout ratio is 25.32%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Tsakos Energy Navigation during the fourth quarter valued at $5,212,000. York Capital Management Global Advisors LLC acquired a new position in Tsakos Energy Navigation during the third quarter valued at $2,336,000. Old West Investment Management LLC increased its position in Tsakos Energy Navigation by 107.2% in the first quarter. Old West Investment Management LLC now owns 936,546 shares of the shipping company’s stock valued at $4,486,000 after buying an additional 484,510 shares during the last quarter. Morgan Stanley increased its position in Tsakos Energy Navigation by 124.0% in the first quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock valued at $2,129,000 after buying an additional 246,081 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Tsakos Energy Navigation during the fourth quarter valued at $1,021,000. Institutional investors and hedge funds own 27.25% of the company’s stock.
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About Tsakos Energy Navigation
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.
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