Tsakos Energy Navigation Ltd. (TNP) Stock Price Down 2.8%
Tsakos Energy Navigation Ltd. (NYSE:TNP)’s share price was down 2.8% during mid-day trading on Tuesday . The stock traded as low as $4.81 and last traded at $4.84, with a volume of 254,716 shares changing hands. The stock had previously closed at $4.98.
Several equities analysts recently weighed in on the stock. Seaport Global Securities reiterated a “buy” rating and issued a $10.00 price target on shares of Tsakos Energy Navigation in a report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Wednesday, May 25th. Morgan Stanley reiterated an “overweight” rating and issued a $8.00 price target (down previously from $8.50) on shares of Tsakos Energy Navigation in a report on Wednesday, June 1st. Credit Suisse Group AG reiterated an “outperform” rating on shares of Tsakos Energy Navigation in a report on Wednesday, June 1st. Finally, Jefferies Group reiterated a “buy” rating on shares of Tsakos Energy Navigation in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Tsakos Energy Navigation currently has an average rating of “Buy” and an average target price of $9.38.
The company has a 50 day moving average price of $5.01 and a 200 day moving average price of $5.72. The stock has a market cap of $417.83 million and a price-to-earnings ratio of 3.19.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Tuesday, May 31st. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company earned $99.60 million during the quarter, compared to analysts’ expectations of $111.56 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was down 18.0% compared to the same quarter last year. Equities analysts forecast that Tsakos Energy Navigation Ltd. will post $0.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 1st. This represents a $0.32 annualized dividend and a yield of 6.65%.
An institutional investor recently raised its position in Tsakos Energy Navigation stock. RS Investment Management Co. LLC raised its stake in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 53.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 572,763 shares of the company’s stock after buying an additional 198,735 shares during the period. RS Investment Management Co. LLC owned approximately 0.66% of Tsakos Energy Navigation worth $4,536,000 at the end of the most recent reporting period.
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.