Tsakos Energy Navigation (NYSE:TEN) Hits 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 stock traded as high as $28.13 and last traded at $27.39, with a volume of 94298 shares trading hands. The stock had previously closed at $27.53.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They issued a “buy” rating and a $35.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price objective on shares of Tsakos Energy Navigation in a research report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average is $24.51 and its 200 day moving average is $23.21. The stock has a market capitalization of $830.96 million, a PE ratio of 8.69 and a beta of -0.21.

Tsakos Energy Navigation (NYSE:TEN) last announced its earnings results on Thursday, November 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $158.84 million during the quarter, compared to analysts’ expectations of $170.78 million. Tsakos Energy Navigation had a return on equity of 13.36% and a net margin of 15.97%. As a group, equities analysts predict that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current year.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.50 per share. This represents a dividend yield of 363.0%. The ex-dividend date of this dividend is Wednesday, February 11th. Tsakos Energy Navigation’s payout ratio is 31.45%.

Institutional Trading of Tsakos Energy Navigation

A number of large investors have recently bought and sold shares of TEN. EverSource Wealth Advisors LLC raised its holdings in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 993 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tsakos Energy Navigation in the 2nd quarter valued at $58,000. Morse Asset Management Inc grew its stake in shares of Tsakos Energy Navigation by 255.6% during the fourth quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock worth $64,000 after buying an additional 2,045 shares during the last quarter. Osaic Holdings Inc. increased its position in Tsakos Energy Navigation by 9.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company’s stock valued at $150,000 after acquiring an additional 684 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Tsakos Energy Navigation during the third quarter worth $198,000. 19.24% of the stock is owned by 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.