Energy Income Partners LLC Raises Position in Okeanis Eco Tankers Corp. $ECO

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

Several other institutional investors and hedge funds have also bought and sold shares of ECO. SG Americas Securities LLC purchased a new stake in Okeanis Eco Tankers in the 1st quarter worth approximately $4,466,000. Boston Partners lifted its holdings in Okeanis Eco Tankers by 23.9% in the 1st quarter. Boston Partners now owns 71,731 shares of the company's stock worth $1,585,000 after buying an additional 13,842 shares during the period. Bank of America Corp DE lifted its holdings in 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 period. Triumph Capital Management purchased a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at approximately $440,000. Finally, Citadel Advisors LLC lifted its stake 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 valued at $279,000 after purchasing an additional 2,340 shares during the period.

Okeanis Eco Tankers Stock Performance

Shares of ECO traded up $0.19 during trading hours on Thursday, hitting $27.60. The stock had a trading volume of 74,897 shares, compared to its average volume of 168,598. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.65. Okeanis Eco Tankers Corp. has a 12 month low of $17.91 and a 12 month high of $35.64. The firm has a market capitalization of $888.54 million, a PE ratio of 13.21 and a beta of -0.09. The stock has a fifty day moving average price of $24.52 and a 200 day moving average price of $23.12.

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

Okeanis Eco Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 10.1%. This is a boost from Okeanis Eco Tankers's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 22nd. Okeanis Eco Tankers's dividend payout ratio (DPR) is currently 133.97%.

Analyst Ratings Changes

ECO has been the subject of a number of research analyst reports. Zacks Research upgraded Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Jefferies Financial Group initiated coverage on Okeanis Eco Tankers in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $34.50.

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.