Okeanis Eco Tankers Corp. $ECO Shares Bought by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC significantly increased its stake in Okeanis Eco Tankers Corp. by 84.6%, now owning 51,189 shares valued at approximately $1.13 million.
• Okeanis Eco Tankers recently declared a quarterly dividend of $0.70, up from the previous $0.32, representing a yield of 10.1% based on a payout ratio of 133.97%.
• The company's earnings per share were reported at $0.83, exceeding estimates by $0.37, alongside a revenue of $93.95 million for the last quarter.

Energy Income Partners LLC increased its position in shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) by 84.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,189 shares of the company's stock after purchasing an additional 23,452 shares during the period. Energy Income Partners LLC owned 0.16% of Okeanis Eco Tankers worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth about $78,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth about $213,000. Citadel Advisors LLC increased its holdings in shares of Okeanis Eco Tankers by 21.7% in the 4th quarter. Citadel Advisors LLC now owns 13,108 shares of the company's stock worth $279,000 after buying an additional 2,340 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter worth about $440,000. Finally, Bank of America Corp DE increased its holdings in shares of Okeanis Eco Tankers by 25.9% in the 4th quarter. Bank of America Corp DE now owns 23,307 shares of the company's stock worth $496,000 after buying an additional 4,798 shares during the last quarter.

Analyst Upgrades and Downgrades

ECO has been the topic of a number of recent analyst reports. Zacks Research raised shares of Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Jefferies Financial Group initiated coverage on shares of Okeanis Eco Tankers in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $29.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Okeanis Eco Tankers presently has an average rating of "Buy" and an average price target of $34.50.

Okeanis Eco Tankers Trading Up 1.3%

ECO stock traded up $0.36 during mid-day trading on Friday, reaching $27.91. The company had a trading volume of 99,527 shares, compared to its average volume of 168,228. Okeanis Eco Tankers Corp. has a 12 month low of $17.91 and a 12 month high of $35.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. The company has a market capitalization of $898.26 million, a PE ratio of 13.35 and a beta of -0.09. The firm has a 50 day moving average of $24.62 and a 200 day moving average of $23.15.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.37. Okeanis Eco Tankers had a net margin of 19.52% and a return on equity of 15.81%. The firm had revenue of $93.95 million for the quarter, compared to the consensus estimate of $56.10 million. On average, equities analysts predict that Okeanis Eco Tankers Corp. will post 1.34 earnings per share for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This is a positive change from Okeanis Eco Tankers's previous quarterly dividend of $0.32. This represents a $2.80 dividend on an annualized basis and a yield of 10.0%. Okeanis Eco Tankers's dividend payout ratio is presently 133.97%.

Okeanis Eco Tankers Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.