Tsakos Energy Navigation (NYSE:TEN) Sets New 52-Week High – Here’s What Happened

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $28.13 and last traded at $27.39, with a volume of 94298 shares traded. The stock had previously closed at $27.53.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TEN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, January 9th. Jefferies Financial Group restated a “hold” rating and set a $24.00 price target on shares of Tsakos Energy Navigation in a research report on Thursday, November 20th. Finally, Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a research note on Monday, December 15th. They set a “buy” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.30 and a quick ratio of 1.25. The company has a market cap of $830.96 million, a PE ratio of 8.69 and a beta of -0.21. The business has a 50-day moving average of $24.51 and a 200 day moving average of $23.21.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Thursday, November 20th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. The business had revenue of $158.84 million during the quarter, compared to analyst estimates of $170.78 million. Tsakos Energy Navigation had a return on equity of 13.36% and a net margin of 15.97%. Equities research analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a yield of 363.0%. Tsakos Energy Navigation’s dividend payout ratio is presently 31.45%.

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Tsakos Energy Navigation by 694.6% during the third quarter. Public Employees Retirement System of Ohio now owns 10,076 shares of the company’s stock worth $224,000 after acquiring an additional 8,808 shares during the period. Tidal Investments LLC raised its stake in shares of Tsakos Energy Navigation by 13.2% during the 2nd quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock worth $244,000 after acquiring an additional 1,482 shares in the last quarter. Walleye Capital LLC purchased a new stake in Tsakos Energy Navigation in the second quarter valued at about $296,000. Schonfeld Strategic Advisors LLC acquired a new stake in Tsakos Energy Navigation in the 3rd quarter worth approximately $461,000. Finally, Moors & Cabot Inc. grew its holdings in shares of Tsakos Energy Navigation by 12.0% during the third quarter. Moors & Cabot Inc. now owns 21,020 shares of the company’s stock valued at $467,000 after buying an additional 2,250 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

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.