TSAKOS ENERGY N/SH (NYSE:TNP) – Jefferies Financial Group lifted their Q3 2018 earnings estimates for TSAKOS ENERGY N/SH in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now anticipates that the shipping company will post earnings of ($0.22) per share for the quarter, up from their prior estimate of ($0.23). Jefferies Financial Group also issued estimates for TSAKOS ENERGY N/SH’s Q4 2018 earnings at ($0.03) EPS, FY2018 earnings at ($0.64) EPS and FY2019 earnings at $0.12 EPS.
Several other brokerages have also recently issued reports on TNP. Zacks Investment Research cut shares of TSAKOS ENERGY N/SH from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 7th. Wells Fargo & Co dropped their price target on shares of TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, September 10th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $6.00 price target on shares of TSAKOS ENERGY N/SH in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $5.00.
TSAKOS ENERGY N/SH (NYSE:TNP) last announced its quarterly earnings data on Friday, September 7th. The shipping company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. TSAKOS ENERGY N/SH had a negative net margin of 6.87% and a negative return on equity of 1.44%. The company had revenue of $94.52 million during the quarter, compared to analysts’ expectations of $96.46 million.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 6.06%. TSAKOS ENERGY N/SH’s dividend payout ratio (DPR) is 83.33%.
Institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of TSAKOS ENERGY N/SH by 11.1% in the 2nd quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock valued at $1,861,000 after buying an additional 50,000 shares during the period. California Public Employees Retirement System grew its stake in shares of TSAKOS ENERGY N/SH by 5.5% in the 1st quarter. California Public Employees Retirement System now owns 730,443 shares of the shipping company’s stock valued at $2,410,000 after buying an additional 38,243 shares during the period. Finally, Guggenheim Capital LLC grew its stake in shares of TSAKOS ENERGY N/SH by 21.5% in the 1st quarter. Guggenheim Capital LLC now owns 764,449 shares of the shipping company’s stock valued at $2,523,000 after buying an additional 135,253 shares during the period. 23.22% of the stock is owned by institutional investors and hedge funds.
TSAKOS ENERGY N/SH Company 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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