Tsakos Energy Navigation (NYSE:TEN) Sets New 1-Year High – Here’s What Happened

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.33 and last traded at $44.5320, with a volume of 64748 shares changing hands. The stock had previously closed at $44.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Wednesday, April 8th. Wall Street Zen upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Trading Up 1.1%

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 9.97 and a beta of -0.27. The business has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $29.62.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings results on Friday, March 6th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.93. The business had revenue of $182.96 million during the quarter, compared to the consensus estimate of $162.84 million. Tsakos Energy Navigation had a return on equity of 17.26% and a net margin of 20.15%.

Insiders Place Their Bets

In related news, CEO Nikolaos Tsakos purchased 12,500 shares of the stock in a transaction on Tuesday, April 28th. The shares were purchased at an average cost of $39.92 per share, with a total value of $499,000.00. Following the acquisition, the chief executive officer directly owned 906,000 shares in the company, valued at $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Tsakos Energy Navigation

Several hedge funds have recently added to or reduced their stakes in TEN. EverSource Wealth Advisors LLC grew its holdings in Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after buying an additional 993 shares in the last quarter. Barclays PLC acquired a new position in shares of Tsakos Energy Navigation in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC increased its position in Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after acquiring an additional 1,585 shares during the period. Summit Securities Group LLC acquired a new stake in Tsakos Energy Navigation in the 4th quarter worth about $56,000. Finally, Morse Asset Management Inc boosted its holdings in Tsakos Energy Navigation by 255.6% in the 4th quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock valued at $64,000 after purchasing an additional 2,045 shares during the period. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

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.