Aegean Marine Petroleum Network Inc. (ANW) Announces $0.02 Quarterly Dividend
Aegean Marine Petroleum Network Inc. (NYSE:ANW) announced a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Stockholders of record on Wednesday, November 29th will be paid a dividend of 0.02 per share by the oil and gas company on Wednesday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Tuesday, November 28th.
Aegean Marine Petroleum Network has increased its dividend payment by an average of 26.0% per year over the last three years. Aegean Marine Petroleum Network has a dividend payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Aegean Marine Petroleum Network to earn $0.65 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 12.3%.
Shares of Aegean Marine Petroleum Network (ANW) traded down $0.15 during trading on Thursday, hitting $3.25. The stock had a trading volume of 925,529 shares, compared to its average volume of 645,991. The company has a market capitalization of $136.12, a price-to-earnings ratio of 3.13 and a beta of 2.17. Aegean Marine Petroleum Network has a 12 month low of $3.20 and a 12 month high of $13.10. The company has a current ratio of 1.85, a quick ratio of 1.43 and a debt-to-equity ratio of 0.84.
Aegean Marine Petroleum Network (NYSE:ANW) last issued its quarterly earnings results on Wednesday, November 15th. The oil and gas company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.20). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Aegean Marine Petroleum Network had a net margin of 0.56% and a return on equity of 7.97%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. analysts expect that Aegean Marine Petroleum Network will post 0.25 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Aegean Marine Petroleum Network stock. State Street Corp increased its stake in shares of Aegean Marine Petroleum Network Inc. (NYSE:ANW) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,837 shares of the oil and gas company’s stock after acquiring an additional 3,324 shares during the period. State Street Corp owned about 0.10% of Aegean Marine Petroleum Network worth $233,000 as of its most recent filing with the SEC. 68.59% of the stock is owned by institutional investors.
Several analysts recently issued reports on ANW shares. Stifel Nicolaus dropped their target price on Aegean Marine Petroleum Network from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Jefferies Group LLC reiterated a “buy” rating and set a $8.00 target price on shares of Aegean Marine Petroleum Network in a report on Friday, August 11th. Clarkson Capital upgraded Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday, August 11th. ValuEngine upgraded Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Aegean Marine Petroleum Network from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $7.33.
About Aegean Marine Petroleum Network
Aegean Marine Petroleum Network Inc is an international marine fuel logistics company. The Company markets and physically supplies refined marine fuel and lubricants to vessels in port, at sea and on rivers. As a physical supplier, the Company procures marine fuel from refineries, oil producers and other sources, and resells and delivers these fuels from its bunkering vessels to a range of end users.
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