Jefferies Group Begins Coverage on Tsakos Energy Navigation (TNP)
Jefferies Group initiated coverage on shares of Tsakos Energy Navigation (NYSE:TNP) in a research note released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $6.00 price target on the shipping company’s stock. Jefferies Group also issued estimates for Tsakos Energy Navigation’s Q4 2017 earnings at $0.13 EPS, FY2017 earnings at $0.13 EPS and FY2018 earnings at $0.98 EPS.
A number of other research firms also recently issued reports on TNP. Cowen reduced their price target on shares of Tsakos Energy Navigation from $7.00 to $6.00 and set a buy rating on the stock in a research report on Friday, September 15th. Stifel Nicolaus set a $7.00 price target on shares of Tsakos Energy Navigation and gave the stock a buy rating in a research report on Sunday, October 29th. BidaskClub raised shares of Tsakos Energy Navigation from a strong sell rating to a sell rating in a report on Friday, August 25th. Maxim Group reaffirmed a buy rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a report on Monday, September 18th. Finally, Morgan Stanley dropped their price objective on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an overweight rating on the stock in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $5.50.
Tsakos Energy Navigation (TNP) opened at $3.94 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 0.99. Tsakos Energy Navigation has a 52-week low of $3.82 and a 52-week high of $5.27. The stock has a market cap of $332.76, a PE ratio of 35.64, a PEG ratio of 9.05 and a beta of 1.51.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be issued a $0.05 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.08%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 181.82%.
A number of institutional investors have recently added to or reduced their stakes in TNP. Kopernik Global Investors LLC increased its stake in Tsakos Energy Navigation by 20.5% during the 3rd quarter. Kopernik Global Investors LLC now owns 4,766,897 shares of the shipping company’s stock valued at $21,404,000 after buying an additional 811,357 shares during the period. Northern Trust Corp increased its stake in Tsakos Energy Navigation by 795.2% during the 2nd quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock valued at $3,928,000 after buying an additional 726,800 shares during the period. Russell Investments Group Ltd. increased its stake in Tsakos Energy Navigation by 37.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock valued at $10,739,000 after buying an additional 653,517 shares during the period. Morgan Stanley increased its stake in Tsakos Energy Navigation by 124.0% during the 1st quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock valued at $2,129,000 after buying an additional 246,081 shares during the period. Finally, Afam Capital Inc. increased its stake in Tsakos Energy Navigation by 69.8% during the 2nd quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock valued at $2,592,000 after buying an additional 221,995 shares during the period. 25.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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