Tsakos Energy Navigation (NYSE:TNP) Sets New 12-Month High at $27.36

Tsakos Energy Navigation Limited (NYSE:TNP)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.36 and last traded at $27.27, with a volume of 208566 shares traded. The stock had previously closed at $26.47.

Analyst Ratings Changes

A number of research firms have recently commented on TNP. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th. StockNews.com upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 13th.

Tsakos Energy Navigation Stock Up 4.3 %

The company has a market cap of $814.48 million, a P/E ratio of 2.94 and a beta of -0.14. The firm’s 50 day moving average price is $25.14 and its two-hundred day moving average price is $23.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.51 and a current ratio of 1.58.

Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results on Wednesday, March 27th. The shipping company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.03). The firm had revenue of $183.57 million for the quarter, compared to analyst estimates of $185.35 million. Tsakos Energy Navigation had a return on equity of 29.41% and a net margin of 33.74%. Equities research analysts anticipate that Tsakos Energy Navigation Limited will post 9.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TNP. Foundation Resource Management Inc. lifted its stake in Tsakos Energy Navigation by 0.6% during the 1st quarter. Foundation Resource Management Inc. now owns 369,134 shares of the shipping company’s stock valued at $9,372,000 after acquiring an additional 2,032 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tsakos Energy Navigation by 17.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 203,398 shares of the shipping company’s stock valued at $4,227,000 after purchasing an additional 30,091 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Tsakos Energy Navigation during the fourth quarter worth about $2,942,000. Glenorchy Capital Ltd bought a new stake in Tsakos Energy Navigation in the 4th quarter worth about $2,106,000. Finally, Stifel Financial Corp increased its stake in Tsakos Energy Navigation by 18.4% in the 3rd quarter. Stifel Financial Corp now owns 88,479 shares of the shipping company’s stock valued at $1,839,000 after buying an additional 13,778 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.