Tsakos Energy Navigation (NYSE:TEN) Hits New 52-Week High – Here’s What Happened

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $51.24 and last traded at $51.0040, with a volume of 746245 shares trading hands. The stock had previously closed at $49.62.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Up 0.7%

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. The stock’s 50 day moving average is $41.77 and its 200-day moving average is $39.86. The company has a market capitalization of $1.59 billion, a P/E ratio of 5.34 and a beta of -0.26.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Thursday, September 10th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.21. Tsakos Energy Navigation had a return on equity of 46.44% and a net margin of 33.81%.The firm had revenue of $246.28 million for the quarter, compared to the consensus estimate of $238.87 million.

Insider Buying and Selling at Tsakos Energy Navigation

In related news, Director Clio Hatzimichalis sold 5,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total value of $205,350.00. Following the sale, the director directly owned 5,000 shares of the company’s stock, valued at $205,350. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in shares of Tsakos Energy Navigation in the 2nd quarter worth about $669,000. Navellier & Associates Inc. increased its stake in shares of Tsakos Energy Navigation by 297.0% in the 2nd quarter. Navellier & Associates Inc. now owns 96,633 shares of the company’s stock worth $3,418,000 after acquiring an additional 72,293 shares in the last quarter. NewEdge Advisors LLC lifted its position in Tsakos Energy Navigation by 25,093.5% during the 1st quarter. NewEdge Advisors LLC now owns 11,589 shares of the company’s stock valued at $457,000 after acquiring an additional 11,543 shares during the period. Bank of America Corp DE boosted its stake in Tsakos Energy Navigation by 214.4% during the first quarter. Bank of America Corp DE now owns 92,833 shares of the company’s stock worth $3,663,000 after acquiring an additional 63,304 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Tsakos Energy Navigation by 56.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the company’s stock worth $81,000 after acquiring an additional 743 shares in the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. is a Greek-based international tanker company that owns and operates vessels serving the global energy transportation industry. Its fleet has historically included crude oil tankers, product tankers, shuttle tankers and liquefied natural gas carriers, enabling the company to transport crude oil, refined petroleum products and other energy commodities.

Founded in 1993, Tsakos Energy Navigation developed a diversified fleet serving oil companies, refiners, commodity traders and other charterers.