Tsakos Energy Navigation Ltd (TEN) to Issue Dividend of $1.00 on July 30th

Tsakos Energy Navigation Ltd (NYSE:TEN) declared a dividend on Monday, June 15th. Shareholders of record on Thursday, July 23rd will be paid a dividend of 1.00 per share on Thursday, July 30th. This represents a yield of 515.0%. The ex-dividend date is Thursday, July 23rd.

Tsakos Energy Navigation has increased its dividend by an average of 0.0%annually over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings.

Tsakos Energy Navigation Stock Up 3.3%

Shares of NYSE TEN opened at $38.87 on Tuesday. The firm has a fifty day simple moving average of $39.11 and a two-hundred day simple moving average of $35.27. Tsakos Energy Navigation has a 12 month low of $18.80 and a 12 month high of $45.85. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.17 billion, a PE ratio of 6.33 and a beta of -0.28.

Tsakos Energy Navigation (NYSE:TEN) last announced its earnings results on Thursday, May 21st. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.65. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million.

Analyst Ratings Changes

A number of research firms have weighed in on TEN. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Monday, July 6th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tsakos Energy Navigation has a consensus rating of “Hold” and a consensus price target of $29.50.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. (NYSE: TEN) is an international shipping company specializing in the transportation of crude oil and refined petroleum products. Founded in 1993 by Nikolas P. Tsakos, the company has built a reputation for operating a modern, well-maintained fleet of double-hull tankers. Tsakos Energy Navigation is organized around both ownership and technical management of vessels, offering chartering, commercial operations and crew services under one umbrella.

The company’s fleet consists primarily of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium-range (MR) and Handy product carriers.