Tsakos Energy Navigation (NYSE:TEN) Hits New 12-Month High – Here’s Why

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) hit a new 52-week high during trading on Tuesday . The company traded as high as $28.49 and last traded at $27.96, with a volume of 43634 shares traded. The stock had previously closed at $28.32.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEN. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of Tsakos Energy Navigation in a report on Thursday, November 20th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tsakos Energy Navigation presently has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Trading Down 0.3%

The firm has a market cap of $850.57 million, a P/E ratio of 8.88 and a beta of -0.21. The company’s fifty day moving average price is $24.78 and its two-hundred day moving average price is $23.44. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Thursday, November 20th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $158.84 million for the quarter, compared to analyst estimates of $170.78 million. Tsakos Energy Navigation had a net margin of 15.97% and a return on equity of 13.36%. As a group, sell-side analysts predict that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 11th will be given a $0.50 dividend. This represents a yield of 358.0%. The ex-dividend date is Wednesday, February 11th. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 31.45%.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds have recently modified their holdings of TEN. Osaic Holdings Inc. raised its position in Tsakos Energy Navigation by 9.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company’s stock worth $150,000 after purchasing an additional 684 shares during the last quarter. Savant Capital LLC increased its stake in shares of Tsakos Energy Navigation by 6.6% in the 4th quarter. Savant Capital LLC now owns 13,356 shares of the company’s stock valued at $299,000 after buying an additional 825 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 993 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Tsakos Energy Navigation by 13.2% during the second quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock valued at $244,000 after acquiring an additional 1,482 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Tsakos Energy Navigation by 186.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after acquiring an additional 1,585 shares during the last quarter. 19.24% of the stock is owned by institutional investors.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. (NYSE: TEN) is an international shipping company specializing in the transportation of crude oil and refined petroleum products. Founded in 1993 by Nikolas P. Tsakos, the company has built a reputation for operating a modern, well-maintained fleet of double-hull tankers. Tsakos Energy Navigation is organized around both ownership and technical management of vessels, offering chartering, commercial operations and crew services under one umbrella.

The company’s fleet consists primarily of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium-range (MR) and Handy product carriers.