Tsakos Energy Navigation Ltd. (TNP) Shares Gap Up to $5.35
Tsakos Energy Navigation Ltd. (NYSE:TNP) gapped up before the market opened on Thursday . The stock had previously closed at $5.29, but opened at $5.35. Tsakos Energy Navigation shares last traded at $5.39, with a volume of 392,029 shares.
A number of equities research analysts have recently commented on TNP shares. JPMorgan Chase & Co. lowered their target price on Tsakos Energy Navigation from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Seaport Global Securities reiterated a “buy” rating and set a $10.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, May 4th. Zacks Investment Research cut Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 25th. Morgan Stanley reiterated an “overweight” rating and set a $8.00 target price (down from $8.50) on shares of Tsakos Energy Navigation in a research note on Wednesday, June 1st. Finally, Credit Suisse Group AG reiterated an “outperform” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.71.
The stock’s 50 day moving average price is $5.32 and its 200 day moving average price is $5.85. The stock has a market cap of $463.49 million and a price-to-earnings ratio of 3.54.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings data on Tuesday, May 31st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm earned $99.60 million during the quarter, compared to the consensus estimate of $111.56 million. Tsakos Energy Navigation’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, equities analysts anticipate that Tsakos Energy Navigation Ltd. will post $1.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 3rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.95%.
Several large investors recently added to or reduced their stakes in TNP. Systematic Financial Management LP boosted its stake in Tsakos Energy Navigation by 16.8% in the fourth quarter. Systematic Financial Management LP now owns 1,238,470 shares of the company’s stock worth $9,808,000 after buying an additional 178,540 shares in the last quarter. Trilogy Global Advisors LP boosted its stake in Tsakos Energy Navigation by 12.9% in the fourth quarter. Trilogy Global Advisors LP now owns 293,047 shares of the company’s stock worth $2,321,000 after buying an additional 33,592 shares in the last quarter. Afam Capital Inc. boosted its stake in Tsakos Energy Navigation by 5.7% in the fourth quarter. Afam Capital Inc. now owns 200,972 shares of the company’s stock worth $1,592,000 after buying an additional 10,922 shares in the last quarter. Finally, Russell Frank Co boosted its stake in Tsakos Energy Navigation by 9.9% in the fourth quarter. Russell Frank Co now owns 733,689 shares of the company’s stock worth $5,510,000 after buying an additional 66,226 shares in the last quarter.
Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. As of April 8, 2015, the Company operated a fleet of 47 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.