Energy Income Partners LLC Grows Position in International Seaways Inc. $INSW

Key Points

• Energy Income Partners LLC increased its stake in International Seaways Inc. by 85.5% in Q1, raising its total holdings to $1.92 million.
• International Seaways reported $1.02 EPS, exceeding analysts' expectations of $0.91, although revenue was down 24% year-over-year.
• The company declared a quarterly dividend of $0.12 per share, with an ex-dividend date of September 10th, representing a 1.1% dividend yield.

Energy Income Partners LLC increased its stake in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 85.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,822 shares of the transportation company's stock after purchasing an additional 26,644 shares during the quarter. Energy Income Partners LLC owned 0.12% of International Seaways worth $1,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in International Seaways by 3.9% during the 1st quarter. American Century Companies Inc. now owns 1,695,985 shares of the transportation company's stock worth $56,307,000 after purchasing an additional 63,232 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in International Seaways by 17.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,202 shares of the transportation company's stock worth $18,068,000 after purchasing an additional 80,591 shares in the last quarter. Pacer Advisors Inc. acquired a new position in International Seaways during the 1st quarter worth $17,331,000. Donald Smith & CO. Inc. grew its stake in International Seaways by 36.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 492,711 shares of the transportation company's stock worth $16,358,000 after purchasing an additional 130,519 shares in the last quarter. Finally, Northern Trust Corp grew its stake in International Seaways by 15.2% during the 4th quarter. Northern Trust Corp now owns 424,290 shares of the transportation company's stock worth $15,249,000 after purchasing an additional 55,824 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

International Seaways Stock Performance

International Seaways stock traded up $0.01 during mid-day trading on Thursday, reaching $46.00. 388,897 shares of the company were exchanged, compared to its average volume of 747,173. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $54.84. The firm's 50-day simple moving average is $41.20 and its two-hundred day simple moving average is $37.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $2.27 billion, a PE ratio of 9.56 and a beta of 0.08.

International Seaways (NYSE:INSW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The transportation company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. International Seaways had a return on equity of 11.35% and a net margin of 29.88%.The firm had revenue of $188.82 million for the quarter, compared to the consensus estimate of $199.06 million. During the same period in the previous year, the business earned $2.37 earnings per share. The company's revenue for the quarter was down 24.0% compared to the same quarter last year. Equities analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 10th. International Seaways's dividend payout ratio (DPR) is presently 9.98%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price target on shares of International Seaways in a report on Thursday, May 8th. BTIG Research decreased their price target on International Seaways from $70.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $53.50.

Insider Transactions at International Seaways

In related news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $44.69, for a total value of $44,690.00. Following the completion of the transaction, the chief financial officer directly owned 64,502 shares of the company's stock, valued at $2,882,594.38. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James D. Small III sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $41.35, for a total value of $206,750.00. Following the completion of the transaction, the chief accounting officer directly owned 69,292 shares of the company's stock, valued at $2,865,224.20. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $767,820 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

About International Seaways

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.