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

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

Wall Street Analysts Forecast Growth

TEN has been the topic of a number of recent analyst reports. Clarkson Capital started coverage on shares of Tsakos Energy Navigation in a research report on Monday, December 15th. They set a “buy” rating and a $35.00 price target on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 target price on shares of Tsakos Energy Navigation in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Stock Performance

The stock’s 50 day moving average is $24.63 and its two-hundred day moving average is $23.27. The stock has a market capitalization of $828.91 million, a price-to-earnings ratio of 8.66 and a beta of -0.21. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings data on Thursday, November 20th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. Tsakos Energy Navigation had a return on equity of 13.36% and a net margin of 15.97%.The company had revenue of $158.84 million during the quarter, compared to analysts’ expectations of $170.78 million. Analysts expect that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 11th will be given a $0.50 dividend. This represents a dividend yield of 358.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Tsakos Energy Navigation’s payout ratio is currently 31.45%.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth about $672,000. Hsbc Holdings PLC boosted its position in Tsakos Energy Navigation by 91.1% during the second quarter. Hsbc Holdings PLC now owns 29,880 shares of the company’s stock valued at $573,000 after purchasing an additional 14,242 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Tsakos Energy Navigation during the second quarter valued at approximately $761,000. EverSource Wealth Advisors LLC grew its stake in Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Tsakos Energy Navigation during the 2nd quarter worth approximately $296,000. 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.