Tsakos Energy Navigation Limited (TNP) To Go Ex-Dividend on July 12th

Tsakos Energy Navigation Limited (NYSE:TNP) declared a Semi-Annual dividend on Thursday, June 20th, Zacks reports. Investors of record on Friday, July 12th will be given a dividend of 0.60 per share by the shipping company on Thursday, July 18th. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, July 12th. This is an increase from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30.

Tsakos Energy Navigation has increased its dividend by an average of 68.7% annually over the last three years. Tsakos Energy Navigation has a payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tsakos Energy Navigation to earn $9.90 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 6.1%.

Tsakos Energy Navigation Stock Up 1.2 %

TNP stock opened at $28.38 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.58 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average price of $28.42 and a two-hundred day moving average price of $25.43. The company has a market cap of $837.49 million, a price-to-earnings ratio of 5.76 and a beta of -0.12. Tsakos Energy Navigation has a twelve month low of $16.45 and a twelve month high of $31.48.

Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Wednesday, March 27th. The shipping company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.03). The company had revenue of $183.57 million during the quarter, compared to the consensus estimate of $185.35 million. Tsakos Energy Navigation had a net margin of 21.41% and a return on equity of 16.78%. Analysts anticipate that Tsakos Energy Navigation will post 9.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th. StockNews.com downgraded Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research note on Friday, May 10th.

About Tsakos Energy Navigation

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. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.