Tsakos Energy Navigation Ltd (NYSE:TNP) declared a quarterly dividend on Friday, September 15th, Zacks reports. Investors of record on Thursday, November 9th will be given a dividend of 0.05 per share by the shipping company on Wednesday, November 15th. This represents a $0.20 annualized dividend and a yield of 4.45%. The ex-dividend date is Wednesday, November 8th.
Tsakos Energy Navigation has increased its dividend payment by an average of 24.6% per year over the last three years. Tsakos Energy Navigation has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Tsakos Energy Navigation to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 24.7%.
Tsakos Energy Navigation (NYSE TNP) opened at $4.50 on Tuesday. The company has a market capitalization of $381.99, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.89 and a beta of 1.61. Tsakos Energy Navigation has a 12 month low of $3.92 and a 12 month high of $5.28. 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 (NYSE:TNP) last announced its quarterly earnings results on Friday, September 15th. The shipping company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.08). The firm had revenue of $104.06 million for the quarter, compared to analyst estimates of $108.51 million. Tsakos Energy Navigation had a return on equity of 2.39% and a net margin of 6.86%. equities analysts predict that Tsakos Energy Navigation will post 0.24 EPS for the current fiscal year.
Several brokerages have commented on TNP. BidaskClub lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Wells Fargo & Company lowered Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a research note on Wednesday, August 2nd. Cowen and Company dropped their price target on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Morgan Stanley dropped their price target on Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating for the company in a research note on Monday, September 18th. Finally, Jefferies Group LLC restated a “buy” rating and set a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Tsakos Energy Navigation presently has a consensus rating of “Buy” and a consensus price target of $5.75.
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An institutional investor recently raised its position in Tsakos Energy Navigation stock. State Street Corp increased its stake in Tsakos Energy Navigation Ltd (NYSE:TNP) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,100 shares of the shipping company’s stock after buying an additional 15,231 shares during the quarter. State Street Corp owned about 0.13% of Tsakos Energy Navigation worth $538,000 as of its most recent filing with the SEC. Institutional investors own 25.80% of the company’s stock.
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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