Tsakos Energy Navigation Ltd (NYSE:TNP) Receives Average Recommendation of “Hold” from Brokerages
Shares of Tsakos Energy Navigation Ltd (NYSE:TNP) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.75.
TNP has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, April 24th. Maxim Group reissued a “buy” rating and issued a $7.00 price objective on shares of Tsakos Energy Navigation in a research note on Friday, April 21st. BidaskClub raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. ValuEngine cut shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company cut shares of Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price objective for the company. in a research note on Wednesday, August 2nd.
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Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Tsakos Energy Navigation by 49.8% in the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock valued at $130,000 after buying an additional 9,060 shares during the period. KCG Holdings Inc. raised its stake in Tsakos Energy Navigation by 74.6% in the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after buying an additional 13,473 shares during the period. Creative Planning raised its stake in Tsakos Energy Navigation by 59.1% in the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after buying an additional 15,660 shares during the period. Essex Investment Management Co. LLC raised its stake in Tsakos Energy Navigation by 29.9% in the first quarter. Essex Investment Management Co. LLC now owns 99,023 shares of the shipping company’s stock valued at $474,000 after buying an additional 22,802 shares during the period. Finally, HPM Partners LLC purchased a new stake in Tsakos Energy Navigation during the first quarter valued at about $484,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.
Tsakos Energy Navigation (TNP) traded down 0.21% during mid-day trading on Tuesday, hitting $4.80. 311,424 shares of the stock were exchanged. The stock has a market capitalization of $403.04 million, a PE ratio of 12.66 and a beta of 1.69. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $5.41. The company has a 50-day moving average of $4.82 and a 200-day moving average of $4.69.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Friday, May 12th. The shipping company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Tsakos Energy Navigation had a net margin of 9.61% and a return on equity of 3.40%. The business had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $113.51 million. On average, equities analysts predict that Tsakos Energy Navigation will post $0.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Tuesday, July 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.20 annualized dividend and a dividend yield of 4.17%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 51.28%.
Tsakos Energy Navigation Company Profile
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.
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