Tsakos Energy Navigation (NYSE:TEN) Reaches New 52-Week High – Time to Buy?

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $39.83 and last traded at $39.8250, with a volume of 91178 shares. The stock had previously closed at $38.00.

Analyst Ratings Changes

TEN has been the topic of several analyst reports. Clarkson Capital assumed coverage on Tsakos Energy Navigation in a research report on Monday, December 15th. They set 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 research report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

The company’s 50 day simple moving average is $32.37 and its 200 day simple moving average is $26.61. The stock has a market cap of $1.18 billion, a PE ratio of 8.76 and a beta of -0.30.

Tsakos Energy Navigation (NYSE:TEN) last announced its earnings results on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.93. The firm had revenue of $182.96 million for the quarter, compared to the consensus estimate of $162.84 million. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%. Equities research analysts expect that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 993 shares during the period. Barclays PLC bought a new position in Tsakos Energy Navigation during the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC increased its holdings in Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after buying an additional 1,585 shares during the last quarter. Summit Securities Group LLC purchased 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 in the second quarter worth about $58,000. 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.