Brokerages Set TSAKOS ENERGY N/SH (TNP) Target Price at $4.75

TSAKOS ENERGY N/SH (NYSE:TNP) has been given a consensus rating of “Buy” by the eight ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $4.75.

TNP has been the subject of a number of analyst reports. Wells Fargo & Co decreased their price target on TSAKOS ENERGY N/SH from $3.20 to $3.00 and set a “buy” rating for the company in a report on Monday, December 3rd. Maxim Group restated a “buy” rating and issued a $4.50 price target on shares of TSAKOS ENERGY N/SH in a report on Monday, November 19th.

TNP traded up $0.18 on Tuesday, reaching $3.39. 155,004 shares of the company’s stock were exchanged, compared to its average volume of 162,232. TSAKOS ENERGY N/SH has a twelve month low of $2.56 and a twelve month high of $4.08. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.98 and a quick ratio of 0.94.

TSAKOS ENERGY N/SH (NYSE:TNP) last posted its earnings results on Friday, November 30th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.09). The business had revenue of $92.60 million for the quarter, compared to analyst estimates of $99.89 million. TSAKOS ENERGY N/SH had a negative return on equity of 2.18% and a negative net margin of 9.04%. As a group, analysts forecast that TSAKOS ENERGY N/SH will post -0.68 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its holdings in TSAKOS ENERGY N/SH by 95.1% in the 4th quarter. Virtu Financial LLC now owns 39,525 shares of the shipping company’s stock worth $105,000 after acquiring an additional 19,263 shares during the period. Renaissance Technologies LLC boosted its holdings in TSAKOS ENERGY N/SH by 2.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,217,100 shares of the shipping company’s stock worth $7,516,000 after acquiring an additional 62,300 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in TSAKOS ENERGY N/SH in the 3rd quarter worth approximately $4,025,000. WealthTrust Axiom LLC boosted its holdings in TSAKOS ENERGY N/SH by 20.8% in the 3rd quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock worth $1,353,000 after acquiring an additional 68,650 shares during the period. Finally, FMR LLC boosted its holdings in TSAKOS ENERGY N/SH by 11.1% in the 2nd quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock worth $1,861,000 after acquiring an additional 50,000 shares during the period. Hedge funds and other institutional investors own 23.21% of the company’s stock.

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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Analyst Recommendations for TSAKOS ENERGY N/SH (NYSE:TNP)

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