Tsakos Energy Navigation (NYSE:TEN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tsakos Energy Navigation (NYSE:TEN) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities research analysts have also weighed in on TEN. Clarkson Capital initiated coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, January 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Stock Down 3.0%

NYSE:TEN opened at $33.76 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average of $29.10 and a 200-day moving average of $25.21. The firm has a market capitalization of $1.02 billion, a PE ratio of 7.57 and a beta of -0.27. Tsakos Energy Navigation has a 52 week low of $13.40 and a 52 week high of $38.87.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Friday, March 6th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%.The firm had revenue of $182.96 million for the quarter, compared to analysts’ expectations of $162.84 million. Analysts predict that Tsakos Energy Navigation will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tsakos Energy Navigation by 602.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock worth $15,917,000 after acquiring an additional 711,313 shares during the period. Millennium Management LLC grew its holdings in Tsakos Energy Navigation by 347.1% during the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock valued at $6,380,000 after buying an additional 222,931 shares in the last quarter. Jump Financial LLC raised its position in shares of Tsakos Energy Navigation by 693.1% during the second quarter. Jump Financial LLC now owns 124,223 shares of the company’s stock valued at $2,384,000 after buying an additional 108,561 shares during the last quarter. Sagil Capital LLP lifted its holdings in shares of Tsakos Energy Navigation by 13.7% in the fourth quarter. Sagil Capital LLP now owns 861,366 shares of the company’s stock worth $19,312,000 after buying an additional 103,801 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tsakos Energy Navigation by 153.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 100,494 shares of the company’s stock worth $2,253,000 after acquiring an additional 60,783 shares during the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

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.