TSAKOS ENERGY N/SH’s (TNP) “Buy” Rating Reaffirmed at Maxim Group
“Ahead of 3Q18 results, we are lowering our estimates as the tanker sector was unable to pull away from the lack of cargoes and oversupply of vessels.”,” Maxim Group’s analyst wrote.
A number of other research analysts also recently issued reports on TNP. Seaport Global Securities reaffirmed a buy rating and issued a $6.00 price objective on shares of TSAKOS ENERGY N/SH in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH from a strong sell rating to a hold rating in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co lowered their target price on shares of TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a buy rating for the company in a research note on Monday, September 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $4.93.
TSAKOS ENERGY N/SH (NYSE:TNP) last issued its quarterly earnings data on Friday, September 7th. The shipping company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. TSAKOS ENERGY N/SH had a negative net margin of 6.87% and a negative return on equity of 1.44%. The firm had revenue of $94.52 million for the quarter, compared to the consensus estimate of $96.46 million. On average, equities research analysts expect that TSAKOS ENERGY N/SH will post -0.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Friday, November 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Thursday, November 29th. TSAKOS ENERGY N/SH’s dividend payout ratio (DPR) is presently 83.33%.
A number of hedge funds have recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC lifted its stake in TSAKOS ENERGY N/SH by 20.8% during the 3rd quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock valued at $1,353,000 after acquiring an additional 68,650 shares during the period. FMR LLC lifted its stake in TSAKOS ENERGY N/SH by 11.1% during the 2nd quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock valued at $1,861,000 after acquiring an additional 50,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TSAKOS ENERGY N/SH during the 3rd quarter valued at approximately $4,025,000. Finally, Renaissance Technologies LLC lifted its stake in TSAKOS ENERGY N/SH by 2.9% during the 3rd quarter. Renaissance Technologies LLC now owns 2,217,100 shares of the shipping company’s stock valued at $7,516,000 after acquiring an additional 62,300 shares during the period. Institutional investors own 25.19% of the company’s stock.
About TSAKOS ENERGY N/SH
Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.
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