JPMorgan Chase & Co. lowered its position in shares of Tsakos Energy Navigation Ltd (NYSE:TNP) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,420 shares of the shipping company’s stock after selling 5,241 shares during the period. JPMorgan Chase & Co. owned 0.29% of Tsakos Energy Navigation worth $1,161,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Parametric Portfolio Associates LLC raised its stake in shares of Tsakos Energy Navigation by 8.1% in the first quarter. Parametric Portfolio Associates LLC now owns 908,886 shares of the shipping company’s stock worth $4,354,000 after buying an additional 67,863 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Tsakos Energy Navigation by 49.8% in the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock worth $130,000 after buying an additional 9,060 shares during the period. HPM Partners LLC acquired a new stake in shares of Tsakos Energy Navigation during the first quarter worth $484,000. LSV Asset Management raised its stake in shares of Tsakos Energy Navigation by 2.1% in the first quarter. LSV Asset Management now owns 2,052,774 shares of the shipping company’s stock worth $9,832,000 after buying an additional 42,100 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Tsakos Energy Navigation by 34.5% in the first quarter. Wells Fargo & Company MN now owns 699,247 shares of the shipping company’s stock worth $3,349,000 after buying an additional 179,537 shares during the period. Hedge funds and other institutional investors own 27.51% of the company’s stock.

Tsakos Energy Navigation Ltd (TNP) opened at 5.00 on Friday. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $4.69. Tsakos Energy Navigation Ltd has a 12 month low of $3.92 and a 12 month high of $5.44. The firm has a market cap of $419.83 million, a price-to-earnings ratio of 13.19 and a beta of 1.69.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Friday, May 12th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. Tsakos Energy Navigation had a return on equity of 3.40% and a net margin of 9.61%. The firm had revenue of $108.16 million for the quarter, compared to analyst estimates of $113.51 million. On average, equities analysts expect that Tsakos Energy Navigation Ltd will post $0.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Tuesday, July 11th were paid a $0.05 dividend. The ex-dividend date was Friday, July 7th. This represents a $0.20 annualized dividend and a dividend yield of 4.00%. Tsakos Energy Navigation’s dividend payout ratio is currently 51.28%.

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A number of brokerages have weighed in on TNP. Jefferies Group LLC restated a “buy” rating and set a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Tuesday, July 4th. BidaskClub upgraded Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Maxim Group set a $7.00 target price on Tsakos Energy Navigation and gave the stock a “buy” rating in a research report on Sunday, May 14th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Finally, ValuEngine lowered Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $6.17.

About Tsakos Energy Navigation

Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 50 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

Institutional Ownership by Quarter for Tsakos Energy Navigation (NYSE:TNP)

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