Tsakos Energy Navigation Ltd. (NYSE:TNP) declared a quarterly dividend on Thursday, November 30th, Zacks reports. Stockholders of record on Thursday, December 21st will be paid a dividend of 0.05 per share by the shipping company on Friday, December 29th. This represents a $0.20 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Wednesday, December 20th.

Tsakos Energy Navigation has increased its dividend payment by an average of 24.6% per year over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Tsakos Energy Navigation to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 26.0%.

Shares of Tsakos Energy Navigation (NYSE:TNP) traded down $0.30 during trading on Friday, hitting $3.84. The stock had a trading volume of 973,100 shares, compared to its average volume of 345,081. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 0.99. The company has a market cap of $358.16, a price-to-earnings ratio of 19.86, a PEG ratio of 2.98 and a beta of 1.61. Tsakos Energy Navigation has a 12-month low of $3.82 and a 12-month high of $5.28.

Tsakos Energy Navigation (NYSE:TNP) last announced its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $96.92 million for the quarter, compared to the consensus estimate of $101.62 million. Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.39%. analysts expect that Tsakos Energy Navigation will post 0.14 EPS for the current year.

Several research firms have weighed in on TNP. Jefferies Group reiterated a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a report on Monday, October 16th. Cowen dropped their price objective on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, September 15th. Stifel Nicolaus set a $7.00 price objective on Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Sunday, October 29th. BidaskClub upgraded Tsakos Energy Navigation from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Maxim Group reiterated a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Tsakos Energy Navigation currently has an average rating of “Buy” and a consensus price target of $5.50.

A hedge fund recently raised its stake in Tsakos Energy Navigation stock. State Street Corp lifted its position in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 15.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,100 shares of the shipping company’s stock after buying an additional 15,231 shares during the period. State Street Corp owned approximately 0.13% of Tsakos Energy Navigation worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 26.07% of the company’s stock.

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About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd 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 57 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.

Dividend History for Tsakos Energy Navigation (NYSE:TNP)

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