California Public Employees Retirement System boosted its holdings in shares of TSAKOS ENERGY N/SH (NYSE:TNP) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 730,443 shares of the shipping company’s stock after acquiring an additional 38,243 shares during the period. California Public Employees Retirement System’s holdings in TSAKOS ENERGY N/SH were worth $2,410,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Afam Capital Inc. increased its holdings in TSAKOS ENERGY N/SH by 2.5% during the 1st quarter. Afam Capital Inc. now owns 581,401 shares of the shipping company’s stock valued at $1,919,000 after purchasing an additional 14,453 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in TSAKOS ENERGY N/SH by 91.7% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 48,500 shares of the shipping company’s stock valued at $160,000 after purchasing an additional 23,200 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in TSAKOS ENERGY N/SH during the 4th quarter valued at $237,000. Virtu Financial LLC increased its holdings in TSAKOS ENERGY N/SH by 679.3% during the 4th quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock valued at $328,000 after purchasing an additional 73,138 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in TSAKOS ENERGY N/SH by 534.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock valued at $374,000 after purchasing an additional 80,538 shares in the last quarter. 26.92% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on TNP shares. Maxim Group dropped their price target on TSAKOS ENERGY N/SH from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, March 13th. JPMorgan Chase & Co. decreased their price objective on TSAKOS ENERGY N/SH from $5.50 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, March 23rd. Zacks Investment Research upgraded TSAKOS ENERGY N/SH from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Finally, ValuEngine upgraded TSAKOS ENERGY N/SH from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.00.
Shares of TSAKOS ENERGY N/SH opened at $3.68 on Friday, according to MarketBeat Ratings. The firm has a market capitalization of $304.74 million, a price-to-earnings ratio of 15.33 and a beta of 1.20. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.60 and a current ratio of 0.65. TSAKOS ENERGY N/SH has a 52 week low of $3.11 and a 52 week high of $5.27.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 8th. Shareholders of record on Thursday, August 2nd will be given a $0.05 dividend. The ex-dividend date is Wednesday, August 1st. This represents a $0.20 dividend on an annualized basis and a yield of 5.43%. TSAKOS ENERGY N/SH’s payout ratio is 83.33%.
TSAKOS ENERGY N/SH 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.
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