Tsakos Energy Navigation (TNP) Given a $6.00 Price Target at Maxim Group

Maxim Group set a $6.00 target price on Tsakos Energy Navigation (NYSE:TNP) in a research report released on Friday, November 17th. The brokerage currently has a buy rating on the shipping company’s stock.

“Due to the current headwinds facing the tanker sector, we are lowering our estimates for TNP ahead of the 3Q17 earnings release on November 30th.”,” the firm’s analyst wrote.

A number of other research analysts have also commented on TNP. BidaskClub lowered shares of Tsakos Energy Navigation from a hold rating to a sell rating in a research report on Friday, July 28th. Wells Fargo & Company lowered shares of Tsakos Energy Navigation from an outperform rating to a market perform rating and set a $3.00 target price for the company. in a research report on Wednesday, August 2nd. Jefferies Group reiterated a buy rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a research report on Tuesday, September 12th. Cowen cut their target price on shares of Tsakos Energy Navigation from $7.00 to $6.00 and set a buy rating for the company in a research report on Friday, September 15th. Finally, Morgan Stanley cut their price target on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an overweight rating for the company in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $5.50.

Tsakos Energy Navigation (TNP) traded down $0.17 during mid-day trading on Friday, reaching $4.02. The company’s stock had a trading volume of 506,634 shares, compared to its average volume of 352,966. Tsakos Energy Navigation has a fifty-two week low of $3.82 and a fifty-two week high of $5.28. The firm has a market cap of $381.14, a P/E ratio of 40.82, a P/E/G ratio of 7.02 and a beta of 1.51. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 0.99.

Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Thursday, November 30th. The shipping company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Tsakos Energy Navigation had a return on equity of 2.02% and a net margin of 5.64%. The company had revenue of $96.92 million during the quarter, compared to the consensus estimate of $101.62 million. equities research analysts expect that Tsakos Energy Navigation will post 0.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, December 20th. Tsakos Energy Navigation’s dividend payout ratio is 181.82%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its holdings in shares of Tsakos Energy Navigation by 49.8% during the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock valued at $130,000 after buying an additional 9,060 shares during the last quarter. KCG Holdings Inc. grew its holdings in shares of Tsakos Energy Navigation by 74.6% during the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after buying an additional 13,473 shares during the last quarter. Creative Planning grew its holdings in shares of Tsakos Energy Navigation by 59.1% during the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after buying an additional 15,660 shares during the last quarter. WFG Advisors LP grew its holdings in shares of Tsakos Energy Navigation by 0.3% during the second quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock valued at $248,000 after buying an additional 156 shares during the last quarter. Finally, Virtu KCG Holdings LLC grew its holdings in shares of Tsakos Energy Navigation by 65.2% during the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock valued at $250,000 after buying an additional 20,577 shares during the last quarter. 26.08% of the stock is owned by institutional investors and hedge funds.

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About Tsakos Energy Navigation

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.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

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