TSAKOS ENERGY N/SH (TNP) Receives $5.00 Average Price Target from Brokerages

TSAKOS ENERGY N/SH (NYSE:TNP) has received an average rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.00.

A number of brokerages have recently issued reports on TNP. Wells Fargo & Co reduced their price objective on shares of TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, September 10th. Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Seaport Global Securities reiterated a “buy” rating and set a $6.00 price objective on shares of TSAKOS ENERGY N/SH in a report on Friday, July 27th.

Hedge funds and other institutional investors have recently modified their holdings of the company. WealthTrust Axiom LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 20.8% during the third quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock valued at $1,353,000 after buying an additional 68,650 shares during the last quarter. FMR LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 11.1% during the second quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock valued at $1,861,000 after buying an additional 50,000 shares during the last quarter. California Public Employees Retirement System boosted its holdings in TSAKOS ENERGY N/SH by 5.5% during the first quarter. California Public Employees Retirement System now owns 730,443 shares of the shipping company’s stock worth $2,410,000 after purchasing an additional 38,243 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in TSAKOS ENERGY N/SH by 21.5% during the first quarter. Guggenheim Capital LLC now owns 764,449 shares of the shipping company’s stock worth $2,523,000 after purchasing an additional 135,253 shares during the last quarter. Hedge funds and other institutional investors own 23.22% of the company’s stock.

TNP opened at $3.59 on Thursday. TSAKOS ENERGY N/SH has a 1-year low of $3.00 and a 1-year high of $4.64. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $304.74 million, a price-to-earnings ratio of 14.96 and a beta of 0.99.

TSAKOS ENERGY N/SH (NYSE:TNP) last posted its quarterly earnings results on Friday, September 7th. The shipping company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The firm had revenue of $94.52 million during the quarter, compared to the consensus estimate of $96.46 million. TSAKOS ENERGY N/SH had a negative net margin of 6.87% and a negative return on equity of 1.44%. On average, equities analysts predict that TSAKOS ENERGY N/SH will post -0.7 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Thursday, November 29th. TSAKOS ENERGY N/SH’s dividend payout ratio is currently 83.33%.

About TSAKOS ENERGY N/SH

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.

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Analyst Recommendations for TSAKOS ENERGY N/SH (NYSE:TNP)

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