Tsakos Energy Navigation Ltd (TNP) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Tsakos Energy Navigation Ltd (NYSE:TNP) have earned an average rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.57.
A number of equities research analysts have issued reports on TNP shares. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a report on Tuesday, July 4th. BidaskClub downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Wells Fargo & Company downgraded 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. Cowen and Company dropped their target price on shares of Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, September 15th. Finally, Maxim Group reiterated a “buy” rating and set a $6.00 target price on shares of Tsakos Energy Navigation in a report on Monday, September 18th.
Shares of Tsakos Energy Navigation (NYSE:TNP) traded up 1.34% on Wednesday, hitting $4.55. The stock had a trading volume of 134,044 shares. Tsakos Energy Navigation has a 1-year low of $3.92 and a 1-year high of $5.28. The firm has a 50 day moving average of $4.55 and a 200-day moving average of $4.63. The firm has a market capitalization of $383.49 million, a price-to-earnings ratio of 23.10 and a beta of 1.70.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Friday, September 15th. The shipping company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.08). Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.48%. The firm had revenue of $104.06 million for the quarter, compared to the consensus estimate of $108.51 million. Equities analysts predict that Tsakos Energy Navigation will post $0.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Wednesday, November 8th. Tsakos Energy Navigation’s payout ratio is currently 95.24%.
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Several large investors have recently bought and sold shares of TNP. Ameriprise Financial Inc. boosted its stake in shares of Tsakos Energy Navigation by 49.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock valued at $130,000 after purchasing an additional 9,060 shares in the last quarter. KCG Holdings Inc. increased its position in shares of 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 buying an additional 13,473 shares during the period. Creative Planning increased its position in shares of 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 buying an additional 15,660 shares during the period. WFG Advisors LP increased its position in shares of Tsakos Energy Navigation by 0.3% during the second quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock valued at $248,000 after buying an additional 156 shares during the period. Finally, Virtu KCG Holdings LLC raised its stake in Tsakos Energy Navigation by 65.2% in the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock worth $250,000 after buying an additional 20,577 shares in the last quarter. 25.98% of the stock is owned by hedge funds and other institutional investors.
Tsakos Energy Navigation Company Profile
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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