Hsbc Holdings PLC Buys New Position in Tsakos Energy Navigation Ltd $TEN

Hsbc Holdings PLC purchased a new stake in Tsakos Energy Navigation Ltd (NYSE:TEN) in the first quarter, HoldingsChannel.com reports. The firm purchased 18,203 shares of the company’s stock, valued at approximately $719,000.

Several other institutional investors have also added to or reduced their stakes in TEN. EverSource Wealth Advisors LLC increased its holdings 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 valued at $25,000 after acquiring an additional 993 shares in the last quarter. Barclays PLC acquired a new stake in Tsakos Energy Navigation in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its stake in Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after purchasing an additional 1,585 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Tsakos Energy Navigation during the 4th quarter worth approximately $56,000. Finally, Raymond James Financial Inc. acquired a new position in Tsakos Energy Navigation during the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

Tsakos Energy Navigation Trading Up 0.4%

Tsakos Energy Navigation stock opened at $39.57 on Friday. The stock has a 50-day moving average price of $38.52 and a 200 day moving average price of $36.19. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.44 and a beta of -0.28. Tsakos Energy Navigation Ltd has a 52 week low of $18.80 and a 52 week high of $45.85. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Thursday, May 21st. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.65. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The company had revenue of $223.12 million for the quarter, compared to the consensus estimate of $208.77 million.

Tsakos Energy Navigation Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were issued a dividend of $1.00 per share. This represents a dividend yield of 507.0%. The ex-dividend date of this dividend was Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 32.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEN. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Tsakos Energy Navigation currently has a consensus rating of “Hold” and an average price target of $29.50.

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.