Tsakos Energy Navigation Ltd. (TNP) Trading Up 2.5%
Shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) were up 2.5% during trading on Tuesday . The company traded as high as $5.03 and last traded at $5.01, with a volume of 205,038 shares changing hands. The stock had previously closed at $4.89.
A number of brokerages have recently issued reports on TNP. Seaport Global Securities reissued a “buy” rating and issued a $10.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday, May 4th. Zacks Investment Research cut shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 25th. Morgan Stanley reissued an “overweight” rating and issued a $8.00 price objective (down from $8.50) on shares of Tsakos Energy Navigation in a research note on Wednesday, June 1st. Credit Suisse Group AG reissued an “outperform” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, June 1st. Finally, Jefferies Group reissued a “buy” rating on shares of Tsakos Energy Navigation in a research note on Tuesday, May 31st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.13.
The firm has a 50-day moving average price of $5.05 and a 200 day moving average price of $5.67. The company has a market capitalization of $433.34 million and a PE ratio of 3.31.
Tsakos Energy Navigation (NYSE:TNP) last released its earnings results on Tuesday, May 31st. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company earned $99.60 million during the quarter, compared to analyst estimates of $111.56 million. The firm’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. Equities research analysts expect that Tsakos Energy Navigation Ltd. will post $0.98 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Investors of record on Wednesday, August 3rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date was Monday, August 1st.
A hedge fund recently raised its stake in Tsakos Energy Navigation stock. RS Investment Management Co. LLC increased its position in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 53.1% during the fourth quarter, according to its most recent disclosure with the SEC. 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 0.66% of Tsakos Energy Navigation worth $4,536,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.