Tsakos Energy Navigation Limited (NYSE:TNP – Get Free Report) declared a Semi-Annual dividend on Thursday, June 20th, Zacks reports. Shareholders of record on Friday, July 12th will be paid a dividend of 0.60 per share by the shipping company on Thursday, July 18th. 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 raised its dividend payment by an average of 68.7% per year over the last three years. Tsakos Energy Navigation has a payout ratio of 5.7% indicating that 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 Trading Down 2.6 %
Shares of TNP stock opened at $28.03 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.51 and a current ratio of 1.58. Tsakos Energy Navigation has a 1 year low of $16.45 and a 1 year high of $31.48. The stock has a fifty day moving average of $28.36 and a two-hundred day moving average of $25.38. The firm has a market capitalization of $827.17 million, a PE ratio of 3.11 and a beta of -0.12.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. StockNews.com lowered Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price objective on shares of Tsakos Energy Navigation in a report on Wednesday, March 27th.
Read Our Latest Stock Report on TNP
Tsakos Energy Navigation 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. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.
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