Seaport Global Securities Weighs in on Tsakos Energy Navigation Ltd’s Q4 2016 Earnings (TNP)
Tsakos Energy Navigation Ltd (NYSE:TNP) – Seaport Global Securities issued their Q4 2016 earnings per share (EPS) estimates for Tsakos Energy Navigation in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Fyhr expects that the brokerage will earn ($0.08) per share for the quarter. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q2 2017 earnings at $0.12 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.13 EPS and FY2017 earnings at $0.63 EPS.
A number of other equities research analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of Tsakos Energy Navigation from an “outperform” rating to a “neutral” rating in a research report on Friday. Clarkson Capital reaffirmed a “buy” rating on shares of Tsakos Energy Navigation in a research report on Tuesday. Zacks Investment Research downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 21st. Maxim Group began coverage on shares of Tsakos Energy Navigation in a research report on Tuesday, December 20th. They set a “buy” rating and a $9.00 price objective for the company. Finally, J P Morgan Chase & Co lowered their price objective on shares of Tsakos Energy Navigation from $8.00 to $7.50 and set an “overweight” rating for the company in a research report on Wednesday, November 30th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $7.90.
Tsakos Energy Navigation (NYSE:TNP) traded down 1.18% during midday trading on Friday, hitting $5.04. 383,991 shares of the stock were exchanged. The stock has a market cap of $422.26 million, a price-to-earnings ratio of 6.40 and a beta of 2.07. The firm’s 50-day moving average is $4.80 and its 200 day moving average is $4.86. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $6.79.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new position in Tsakos Energy Navigation during the second quarter valued at approximately $4,668,000. Kopernik Global Investors LLC raised its stake in shares of 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 worth $16,168,000 after buying an additional 783,364 shares in the last quarter. York Capital Management Global Advisors LLC bought a new stake in shares of Tsakos Energy Navigation during the third quarter worth $2,336,000. Highbridge Capital Management LLC bought a new stake in shares of Tsakos Energy Navigation during the second quarter worth $1,204,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Tsakos Energy Navigation by 70.4% in the third quarter. JPMorgan Chase & Co. now owns 354,239 shares of the company’s stock worth $1,707,000 after buying an additional 146,382 shares in the last quarter. Hedge funds and other institutional investors own 26.00% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 22nd. Shareholders of record on Friday, December 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.92%. The ex-dividend date was Wednesday, December 14th. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 25.32%.
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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