Tsakos Energy Navigation Ltd (NYSE:TNP) declared a quarterly dividend on Friday, September 15th, Zacks reports. Investors of record on Thursday, November 9th will be given a dividend of 0.05 per share by the shipping company on Wednesday, November 15th. This represents a $0.20 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Wednesday, November 8th.

Tsakos Energy Navigation has raised its dividend payment by an average of 24.6% per year over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 76.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Tsakos Energy Navigation to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 24.7%.

Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings data on Friday, September 15th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $104.06 million during the quarter, compared to analysts’ expectations of $108.51 million. Tsakos Energy Navigation had a return on equity of 2.39% and a net margin of 6.86%.

An institutional investor recently raised its position in Tsakos Energy Navigation stock. State Street Corp increased its holdings in Tsakos Energy Navigation Ltd (NYSE:TNP) by 15.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,100 shares of the shipping company’s stock after purchasing an additional 15,231 shares during the period. State Street Corp owned approximately 0.13% of Tsakos Energy Navigation worth $538,000 at the end of the most recent quarter. 25.80% of the stock is currently owned by hedge funds and other institutional investors.

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TNP has been the topic of several analyst reports. Stifel Nicolaus set a $7.00 price target on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Sunday, October 29th. Maxim Group reissued a “buy” rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a report on Monday, September 18th. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a report on Monday, October 16th. BidaskClub raised shares of Tsakos Energy Navigation from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Morgan Stanley lowered their target price on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating on the stock in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $5.75.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd 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 57 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.

Dividend History for Tsakos Energy Navigation (NYSE:TNP)

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