Tsakos Energy Navigation (NYSE:TEN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Tsakos Energy Navigation Ltd (NYSE:TEN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $36.68 and traded as high as $39.50. Tsakos Energy Navigation shares last traded at $39.0660, with a volume of 162,199 shares traded.

Wall Street Analyst Weigh In

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

Tsakos Energy Navigation Trading Up 0.0%

The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.18 billion, a P/E ratio of 6.36 and a beta of -0.28. The business has a fifty day moving average price of $38.35 and a 200 day moving average price of $36.68.

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

Tsakos Energy Navigation Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd were given a $1.00 dividend. This represents a dividend yield of 507.0%. The ex-dividend date of this dividend was Thursday, July 23rd. Tsakos Energy Navigation’s payout ratio is currently 32.57%.

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in Tsakos Energy Navigation by 312.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 993 shares in the last quarter. Barclays PLC bought a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at about $36,000. Smartleaf Asset Management LLC increased its position in shares of Tsakos Energy Navigation by 186.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after acquiring an additional 1,585 shares during the last quarter. Summit Securities Group LLC bought a new stake in Tsakos Energy Navigation during the fourth quarter worth about $56,000. Finally, Raymond James Financial Inc. bought a new stake in Tsakos Energy Navigation during the second quarter worth about $58,000. 19.24% of the stock is currently 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.