Tsakos Energy Navigation Limited (TNP) to Issue Semi-annual Dividend of $0.15 on December 20th

Tsakos Energy Navigation Limited (NYSE:TNPGet Rating) declared a semi-annual dividend on Tuesday, November 22nd, Wall Street Journal reports. Investors of record on Wednesday, December 14th will be paid a dividend of 0.15 per share by the shipping company on Tuesday, December 20th. This represents a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, December 13th. This is an increase from Tsakos Energy Navigation’s previous semi-annual dividend of $0.10.

Tsakos Energy Navigation has decreased its dividend payment by an average of 48.9% annually over the last three years. Tsakos Energy Navigation has a dividend payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tsakos Energy Navigation to earn $6.91 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 2.9%.

Tsakos Energy Navigation Trading Down 3.0 %

NYSE TNP traded down $0.53 on Thursday, hitting $17.19. 1,000,406 shares of the stock were exchanged, compared to its average volume of 429,023. The business’s fifty day moving average is $17.52 and its 200 day moving average is $13.96. Tsakos Energy Navigation has a 52 week low of $6.95 and a 52 week high of $20.20. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.90.

Tsakos Energy Navigation (NYSE:TNPGet Rating) last released its quarterly earnings results on Wednesday, September 14th. The shipping company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.22). The business had revenue of $153.96 million during the quarter, compared to analyst estimates of $163.51 million. Tsakos Energy Navigation had a net margin of 0.16% and a return on equity of 9.95%. During the same quarter last year, the company posted ($1.18) earnings per share. On average, analysts anticipate that Tsakos Energy Navigation will post 5.74 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Tsakos Energy Navigation from $16.00 to $19.00 in a report on Wednesday. Jefferies Financial Group upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $25.00 in a report on Tuesday, September 6th. Finally, StockNews.com began coverage on Tsakos Energy Navigation in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of hedge funds have recently bought and sold shares of TNP. State Street Corp acquired a new position in shares of Tsakos Energy Navigation during the third quarter valued at approximately $585,000. Two Sigma Advisers LP boosted its position in shares of Tsakos Energy Navigation by 5.2% during the third quarter. Two Sigma Advisers LP now owns 365,800 shares of the shipping company’s stock worth $5,586,000 after buying an additional 18,200 shares during the period. Two Sigma Investments LP boosted its holdings in Tsakos Energy Navigation by 88.4% in the third quarter. Two Sigma Investments LP now owns 371,400 shares of the shipping company’s stock valued at $5,671,000 after purchasing an additional 174,231 shares during the period. Marshall Wace LLP raised its stake in Tsakos Energy Navigation by 134.5% in the third quarter. Marshall Wace LLP now owns 158,794 shares of the shipping company’s stock valued at $2,426,000 after buying an additional 91,074 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Tsakos Energy Navigation in the third quarter valued at $371,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tsakos Energy Navigation Company Profile

(Get Rating)

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 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers.

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Dividend History for Tsakos Energy Navigation (NYSE:TNP)

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