Stifel Nicolaus Reiterates $7.00 Price Target for Tsakos Energy Navigation Ltd (TNP)

Stifel Nicolaus set a $7.00 target price on Tsakos Energy Navigation Ltd (NYSE:TNP) in a research note issued to investors on Sunday morning. The brokerage currently has a buy rating on the shipping company’s stock.

A number of other brokerages have also issued reports on TNP. Maxim Group restated a buy rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Monday, September 18th. Jefferies Group LLC restated a buy rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Monday, October 16th. BidaskClub upgraded shares of Tsakos Energy Navigation from a strong sell rating to a sell rating in a research note on Friday, August 25th. Morgan Stanley dropped their price target on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an overweight rating for the company in a research note on Monday, September 18th. Finally, Wells Fargo & Company lowered shares of Tsakos Energy Navigation from an outperform rating to a market perform rating and set a $3.00 price target for the company. in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $5.75.

Tsakos Energy Navigation (NYSE:TNP) opened at 4.49 on Friday. Tsakos Energy Navigation has a 52-week low of $3.92 and a 52-week high of $5.28. The company has a 50 day moving average of $4.56 and a 200-day moving average of $4.61. The stock has a market capitalization of $378.83 million, a P/E ratio of 22.79 and a beta of 1.70.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Friday, September 15th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The company had revenue of $104.06 million during the quarter, compared to the consensus estimate of $108.51 million. Tsakos Energy Navigation had a return on equity of 2.39% and a net margin of 6.86%. Equities research analysts anticipate that Tsakos Energy Navigation will post $0.16 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.20 annualized dividend and a yield of 4.45%. Tsakos Energy Navigation’s payout ratio is 95.24%.

A number of hedge funds have recently added to or reduced their stakes in TNP. Ameriprise Financial Inc. increased its stake in Tsakos Energy Navigation by 49.8% during the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock valued at $130,000 after purchasing an additional 9,060 shares during the last quarter. Morgan Stanley increased its stake in Tsakos Energy Navigation by 124.0% during the first quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock valued at $2,129,000 after purchasing an additional 246,081 shares during the last quarter. KCG Holdings Inc. increased its stake in Tsakos Energy Navigation by 74.6% during the first quarter. KCG Holdings Inc. now owns 31,543 shares of the shipping company’s stock valued at $151,000 after purchasing an additional 13,473 shares during the last quarter. Creative Planning increased its stake in Tsakos Energy Navigation by 59.1% during the second quarter. Creative Planning now owns 42,160 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 15,660 shares during the last quarter. Finally, Foundation Resource Management Inc. increased its stake in Tsakos Energy Navigation by 1.3% during the second quarter. Foundation Resource Management Inc. now owns 626,916 shares of the shipping company’s stock valued at $3,009,000 after purchasing an additional 7,910 shares during the last quarter. Hedge funds and other institutional investors own 25.80% of the company’s stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

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