TSAKOS ENERGY N/SH (NYSE:TNP) issued its quarterly earnings results on Friday. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.09), Morningstar.com reports. 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 $92.60 million for the quarter, compared to analyst estimates of $99.89 million.
Shares of NYSE TNP traded down $0.01 during mid-day trading on Friday, reaching $3.37. The company had a trading volume of 226,815 shares, compared to its average volume of 142,406. 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 stock has a market capitalization of $286.92 million, a price-to-earnings ratio of 14.04 and a beta of 0.99. TSAKOS ENERGY N/SH has a 1-year low of $3.00 and a 1-year high of $4.64.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Friday, November 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date is Thursday, November 29th. TSAKOS ENERGY N/SH’s payout ratio is 83.33%.
Several hedge funds and other institutional investors have recently modified their holdings of TNP. WealthTrust Axiom LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 20.8% in the 3rd quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock worth $1,353,000 after acquiring an additional 68,650 shares during the last quarter. FMR LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 11.1% in the 2nd quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock worth $1,861,000 after acquiring an additional 50,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TSAKOS ENERGY N/SH in the 3rd quarter worth $4,025,000. Finally, Renaissance Technologies LLC grew its holdings in shares of TSAKOS ENERGY N/SH by 2.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,217,100 shares of the shipping company’s stock worth $7,516,000 after acquiring an additional 62,300 shares during the last quarter. Institutional investors and hedge funds own 25.19% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was originally reported by WKRB News and is owned by of WKRB News. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.wkrb13.com/2018/12/01/tsakos-energy-n-sh-tnp-releases-quarterly-earnings-results-misses-estimates-by-0-09-eps.html.
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.
Featured Story: What are the reasons investors use put options?
Receive News & Ratings for TSAKOS ENERGY N/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TSAKOS ENERGY N/SH and related companies with MarketBeat.com's FREE daily email newsletter.