Energy Income Partners LLC Makes New Investment in International Seaways Inc. $INSW

Key Points

• Energy Income Partners LLC acquired 54,323 shares of International Seaways valued at approximately $4.16 million, giving it a 0.11% stake. Institutional investors and hedge funds collectively own 67.29% of the company.
• International Seaways reported quarterly EPS of $5.91, beating estimates of $5.55, while revenue rose 138.9% year over year to $467.29 million. Analysts maintain a consensus “Buy” rating with an $88 target price.
• The company increased its quarterly dividend from $0.12 to $5.05 per share, implying an annualized dividend of $20.20 and a 20.4% yield. INSW shares opened at $99.02, near their 12-month high of $99.68.

Energy Income Partners LLC purchased a new stake in International Seaways Inc. (NYSE:INSW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 54,323 shares of the transportation company's stock, valued at approximately $4,161,000. Energy Income Partners LLC owned approximately 0.11% of International Seaways at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INSW. First Horizon Corp lifted its stake in International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares in the last quarter. Leonteq Securities AG purchased a new position in International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of International Seaways in the fourth quarter worth $46,000. Rockefeller Capital Management L.P. raised its holdings in shares of International Seaways by 583.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company's stock worth $47,000 after acquiring an additional 822 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of International Seaways in the third quarter valued at $53,000. 67.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the transaction, the chief financial officer directly owned 101,984 shares in the company, valued at $8,330,053.12. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the transaction, the chief executive officer directly owned 173,745 shares in the company, valued at $17,103,457.80. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,000 shares of company stock worth $441,240 in the last quarter. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INSW shares. Pareto Securities lowered shares of International Seaways from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Jefferies Financial Group lifted their price target on shares of International Seaways from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. BTIG Research boosted their price objective on shares of International Seaways from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of International Seaways in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of International Seaways from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $88.00.

International Seaways Trading Up 0.7%

NYSE INSW opened at $99.02 on Wednesday. International Seaways Inc. has a 12 month low of $41.42 and a 12 month high of $99.68. The company has a 50-day moving average of $87.98 and a 200-day moving average of $79.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The company has a market cap of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13.

International Seaways (NYSE:INSW - Get Free Report) last released its earnings results on Monday, August 10th. The transportation company reported $5.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.36. The firm had revenue of $467.29 million during the quarter, compared to the consensus estimate of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. International Seaways's revenue was up 138.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 earnings per share. As a group, equities analysts predict that International Seaways Inc. will post 15.89 earnings per share for the current year.

International Seaways Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $5.05 dividend. The ex-dividend date is Thursday, September 10th. This is an increase from International Seaways's previous quarterly dividend of $0.12. This represents a $20.20 dividend on an annualized basis and a yield of 20.4%. International Seaways's payout ratio is 3.07%.

About International Seaways

International Seaways, Inc NYSE: INSW is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.

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