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

Maxim Group set a $6.00 price objective on Tsakos Energy Navigation (NYSE:TNP) in a research note published on Thursday morning. The brokerage currently has a buy rating on the shipping company’s stock.

“3Q17 revenues of $96.9 million, EBITDA of $47.2 million, and a loss per share of ($0.15) were mostly in line. The company realized a fleet-wide time charter equivalent (TCE) rate of $17,430 per vessel/day as the lull in tanker rates persisted throughout 3Q17.”,” Maxim Group’s analyst commented.

Several other research firms have also recently commented on TNP. Stifel Nicolaus set a $7.00 target price on shares of Tsakos Energy Navigation and gave the stock a buy rating in a research note on Sunday, October 29th. Jefferies Group reaffirmed a buy rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a research note on Monday, October 16th. BidaskClub raised shares of Tsakos Energy Navigation from a strong sell rating to a sell rating in a research note on Friday, August 25th. Morgan Stanley lowered their target price on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an overweight rating for the company in a research note on Monday, September 18th. Finally, Wells Fargo & Company cut 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 note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Tsakos Energy Navigation currently has a consensus rating of Buy and a consensus target price of $5.50.

Tsakos Energy Navigation (NYSE:TNP) traded up $0.42 during mid-day trading on Thursday, reaching $4.26. 1,007,073 shares of the company’s stock traded hands, compared to its average volume of 347,934. The stock has a market cap of $358.16, a PE ratio of 19.86, a P/E/G ratio of 2.98 and a beta of 1.61. 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 has a 12-month low of $3.82 and a 12-month high of $5.28.

Tsakos Energy Navigation (NYSE:TNP) last released its earnings results on Thursday, November 30th. The shipping company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The firm had revenue of $96.92 million during the quarter, compared to analysts’ expectations of $101.62 million. Tsakos Energy Navigation had a return on equity of 2.39% and a net margin of 6.86%. equities analysts anticipate that Tsakos Energy Navigation will post 0.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.69%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 100.00%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in shares of Tsakos Energy Navigation by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock valued at $141,000 after purchasing an additional 2,104 shares during the last quarter. KCG Holdings Inc. boosted its holdings in shares of Tsakos Energy Navigation by 74.6% in the 1st quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after purchasing an additional 13,473 shares during the last quarter. Creative Planning boosted its holdings in shares of Tsakos Energy Navigation by 59.1% in the 2nd quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 15,660 shares during the last quarter. WFG Advisors LP boosted its holdings in shares of Tsakos Energy Navigation by 0.3% in the 2nd quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock valued at $248,000 after purchasing an additional 156 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in shares of Tsakos Energy Navigation by 65.2% in the 2nd quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock valued at $250,000 after purchasing an additional 20,577 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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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.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

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