Tsakos Energy Navigation Ltd (TNP) Given Average Recommendation of “Buy” by Brokerages
Tsakos Energy Navigation Ltd (NYSE:TNP) has been assigned an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.75.
A number of research firms recently weighed in on TNP. Cowen and Company decreased 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. Jefferies Group LLC restated a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a report on Tuesday, September 12th. BidaskClub downgraded Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Wells Fargo & Company downgraded Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price objective for the company. in a report on Wednesday, August 2nd. Finally, Morgan Stanley decreased their price objective on Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating for the company in a report on Monday, September 18th.
Institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in Tsakos Energy Navigation by 49.8% during the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock valued at $130,000 after acquiring an additional 9,060 shares during the last quarter. KCG Holdings Inc. boosted its position in Tsakos Energy Navigation by 74.6% during the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after acquiring an additional 13,473 shares during the last quarter. Creative Planning boosted its position in Tsakos Energy Navigation by 59.1% during the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after acquiring an additional 15,660 shares during the last quarter. WFG Advisors LP boosted its position in shares of Tsakos Energy Navigation by 0.3% during the 2nd quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock worth $248,000 after purchasing an additional 156 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in shares of Tsakos Energy Navigation by 65.2% during the 2nd quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock worth $250,000 after purchasing an additional 20,577 shares in the last quarter. 26.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tsakos Energy Navigation (NYSE:TNP) traded down $0.14 during trading hours on Thursday, hitting $4.19. 410,300 shares of the stock traded hands, compared to its average volume of 346,282. The firm has a market capitalization of $367.56, a P/E ratio of 20.62, a PEG ratio of 1.82 and a beta of 1.61. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. Tsakos Energy Navigation has a 52 week low of $4.07 and a 52 week high of $5.28.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings data on Friday, September 15th. The shipping company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.08). The company had revenue of $104.06 million during the quarter, compared to analyst estimates of $108.51 million. Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.39%. sell-side analysts expect that Tsakos Energy Navigation will post 0.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, November 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 4.77%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 95.24%.
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.
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