Tsakos Energy Navigation Ltd. (TNP) Receives Consensus Recommendation of “Buy” from Brokerages
Tsakos Energy Navigation Ltd. (NYSE:TNP) has received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.50.
Several equities research analysts have recently commented on TNP shares. Morgan Stanley set a $6.00 price target on Tsakos Energy Navigation and gave the stock a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in Tsakos Energy Navigation by 123.5% in the second quarter. LSV Asset Management now owns 2,010,674 shares of the company’s stock valued at $9,430,000 after buying an additional 1,110,999 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Tsakos Energy Navigation during the second quarter valued at about $4,668,000. Kopernik Global Investors LLC boosted its position in Tsakos Energy Navigation by 30.5% in the third quarter. Kopernik Global Investors LLC now owns 3,354,509 shares of the company’s stock valued at $16,168,000 after buying an additional 783,364 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in Tsakos Energy Navigation during the third quarter valued at about $2,336,000. Finally, Highbridge Capital Management LLC acquired a new position in Tsakos Energy Navigation during the second quarter valued at about $1,204,000. Hedge funds and other institutional investors own 26.00% of the company’s stock.
Shares of Tsakos Energy Navigation (NYSE:TNP) traded up 1.83% during midday trading on Tuesday, reaching $4.45. 318,026 shares of the company’s stock traded hands. The stock’s 50 day moving average is $4.64 and its 200-day moving average is $5.08. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $8.12. The company has a market capitalization of $374.49 million, a PE ratio of 3.64 and a beta of 2.13.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Friday, September 9th. The company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. Tsakos Energy Navigation had a return on equity of 8.59% and a net margin of 23.06%. The company earned $119.85 million during the quarter. During the same quarter in the prior year, the firm posted $0.45 EPS. Tsakos Energy Navigation’s quarterly revenue was down 22.1% compared to the same quarter last year. On average, analysts forecast that Tsakos Energy Navigation will post $0.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, November 4th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.14%. The ex-dividend date was Wednesday, November 2nd. Tsakos Energy Navigation’s payout ratio is 26.02%.
About Tsakos Energy Navigation
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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