Maxim Group reaffirmed their buy rating on shares of TSAKOS ENERGY N/SH (NYSE:TNP) in a research note issued to investors on Monday morning. The firm currently has a $4.50 price objective on the shipping company’s stock.
“Ahead of 3Q18 results, we are lowering our estimates as the tanker sector was unable to pull away from the lack of cargoes and oversupply of vessels.”,” the firm’s analyst commented.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH from a strong sell rating to a hold rating in a research note on Wednesday, August 22nd. Seaport Global Securities reiterated a buy rating and set a $6.00 price objective on shares of TSAKOS ENERGY N/SH in a research note on Friday, July 27th. Finally, Wells Fargo & Co dropped their price objective on shares of TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a buy rating on the stock in a research note on Monday, September 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $4.93.
TSAKOS ENERGY N/SH (NYSE:TNP) last released its quarterly earnings data on Friday, September 7th. The shipping company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. TSAKOS ENERGY N/SH had a negative net margin of 6.87% and a negative return on equity of 1.44%. The firm had revenue of $94.52 million for the quarter, compared to the consensus estimate of $96.46 million. On average, equities analysts forecast that TSAKOS ENERGY N/SH will post -0.69 EPS for the current fiscal 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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.21%. TSAKOS ENERGY N/SH’s dividend payout ratio is presently 83.33%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of TSAKOS ENERGY N/SH by 32.1% during the third quarter. Morgan Stanley now owns 176,187 shares of the shipping company’s stock valued at $598,000 after purchasing an additional 42,783 shares in the last quarter. WealthTrust Axiom LLC boosted its stake 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 purchasing an additional 68,650 shares in the last quarter. FMR LLC boosted its stake 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 purchasing an additional 50,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in TSAKOS ENERGY N/SH during the third quarter valued at approximately $4,025,000. Finally, Renaissance Technologies LLC lifted its position in TSAKOS ENERGY N/SH by 2.9% during the third quarter. Renaissance Technologies LLC now owns 2,217,100 shares of the shipping company’s stock valued at $7,516,000 after acquiring an additional 62,300 shares during the last quarter. Hedge funds and other institutional investors own 25.19% of the company’s stock.
TSAKOS ENERGY N/SH Company Profile
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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