Tsakos Energy Navigation Ltd (NYSE:TEN) Plans $0.60 Semi-annual Dividend

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) announced a semi-annual dividend on Wednesday, June 18th, Wall Street Journal reports. Shareholders of record on Monday, July 14th will be given a dividend of 0.60 per share on Friday, July 18th. This represents a dividend yield of 5.7%. The ex-dividend date is Monday, July 14th.

Tsakos Energy Navigation has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tsakos Energy Navigation to earn $4.35 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 41.4%.

Tsakos Energy Navigation Stock Down 2.1%

Shares of TEN stock traded down $0.46 during mid-day trading on Friday, hitting $20.78. 540,045 shares of the stock traded hands, compared to its average volume of 303,048. The stock has a market cap of $626.22 million, a P/E ratio of 4.63 and a beta of -0.16. The stock's fifty day moving average is $17.70 and its two-hundred day moving average is $17.32. Tsakos Energy Navigation has a 52-week low of $13.40 and a 52-week high of $30.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.11 and a quick ratio of 1.06.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.29 by $0.63. The business had revenue of $153.51 million during the quarter, compared to analyst estimates of $154.01 million. Tsakos Energy Navigation had a net margin of 20.00% and a return on equity of 10.63%. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities analysts predict that Tsakos Energy Navigation will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Jefferies Financial Group increased their price objective on shares of Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Tuesday.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.