Tsakos Energy Navigation Ltd (NYSE:TEN) Declares Dividend of $0.50

Tsakos Energy Navigation Ltd (NYSE:TEN) declared a dividend on Thursday, November 20th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.50 per share on Friday, December 19th. This represents a yield of 399.0%. The ex-dividend date is Monday, December 15th.

Tsakos Energy Navigation has increased its dividend payment by an average of 0.2%per year over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tsakos Energy Navigation to earn $4.35 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.6%.

Tsakos Energy Navigation Price Performance

Shares of NYSE TEN traded down $0.19 on Thursday, hitting $25.05. The company’s stock had a trading volume of 789,481 shares, compared to its average volume of 318,549. The stock has a 50 day moving average of $23.17 and a 200-day moving average of $20.89. The company has a market capitalization of $754.74 million, a price-to-earnings ratio of 8.95 and a beta of -0.15. Tsakos Energy Navigation has a 12-month low of $13.40 and a 12-month high of $26.69. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.30 and a quick ratio of 1.25.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings data on Thursday, November 20th. The company reported $1.05 earnings per share for the quarter. Tsakos Energy Navigation had a net margin of 14.17% and a return on equity of 12.03%. As a group, research analysts predict that Tsakos Energy Navigation will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEN. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price target on shares of Tsakos Energy Navigation in a report on Thursday. Zacks Research cut Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.00.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.