Tsakos Energy Navigation (NYSE:TEN) Hits New 1-Year High – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $25.20 and last traded at $24.8840, with a volume of 170295 shares changing hands. The stock had previously closed at $24.99.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TEN shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 price target on shares of Tsakos Energy Navigation in a research report on Wednesday, September 10th. Zacks Research lowered Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.00.

Tsakos Energy Navigation Price Performance

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 price of $22.92 and a 200 day moving average price of $20.62. The stock has a market capitalization of $767.18 million, a price-to-earnings ratio of 9.09 and a beta of -0.15.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Wednesday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. Tsakos Energy Navigation had a return on equity of 12.03% and a net margin of 14.17%.The company had revenue of $161.39 million for the quarter, compared to the consensus estimate of $163.62 million. As a group, 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 institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tsakos Energy Navigation by 602.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock valued at $15,917,000 after purchasing an additional 711,313 shares in the last quarter. Jump Financial LLC raised its position in shares of Tsakos Energy Navigation by 693.1% during the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company’s stock worth $2,384,000 after purchasing an additional 108,561 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth about $761,000. Squarepoint Ops LLC boosted its holdings in Tsakos Energy Navigation by 287.0% in the 3rd quarter. Squarepoint Ops LLC now owns 52,842 shares of the company’s stock worth $1,174,000 after buying an additional 39,188 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Tsakos Energy Navigation during the 2nd quarter worth approximately $672,000. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.