Wells Fargo & Company MN cut its holdings in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 658,266 shares of the shipping company’s stock after selling 58,629 shares during the quarter. Wells Fargo & Company MN’s holdings in Tsakos Energy Navigation were worth $2,956,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TNP. Kopernik Global Investors LLC increased its stake in Tsakos Energy Navigation by 20.5% in the third quarter. Kopernik Global Investors LLC now owns 4,766,897 shares of the shipping company’s stock valued at $21,404,000 after purchasing an additional 811,357 shares during the period. Northern Trust Corp increased its stake in Tsakos Energy Navigation by 795.2% in the second quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock valued at $3,928,000 after purchasing an additional 726,800 shares during the period. Russell Investments Group Ltd. increased its stake in Tsakos Energy Navigation by 37.6% in the third quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock valued at $10,739,000 after purchasing an additional 653,517 shares during the period. Afam Capital Inc. increased its stake in Tsakos Energy Navigation by 69.8% in the second quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock valued at $2,592,000 after purchasing an additional 221,995 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Tsakos Energy Navigation by 218.3% in the third quarter. JPMorgan Chase & Co. now owns 323,107 shares of the shipping company’s stock valued at $1,473,000 after purchasing an additional 221,587 shares during the period. Institutional investors own 25.96% of the company’s stock.

Tsakos Energy Navigation Ltd. (NYSE TNP) opened at $4.03 on Friday. Tsakos Energy Navigation Ltd. has a one year low of $3.82 and a one year high of $5.27. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The stock has a market cap of $340.02, a PE ratio of 20.15, a PEG ratio of 0.80 and a beta of 1.52.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Thursday, November 30th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Tsakos Energy Navigation had a return on equity of 2.02% and a net margin of 5.64%. The firm had revenue of $96.92 million for the quarter, compared to analyst estimates of $101.62 million. research analysts predict that Tsakos Energy Navigation Ltd. will post 0.02 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Thursday, December 21st were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.96%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 100.00%.

A number of research analysts have commented on TNP shares. Stifel Nicolaus set a $7.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Sunday, October 29th. Maxim Group restated a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, September 18th. ValuEngine lowered shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Jefferies Group restated a “buy” rating and issued a $6.00 price objective on shares of Tsakos Energy Navigation in a research note on Monday, October 16th. Finally, Morgan Stanley dropped their price objective on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.50.

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Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.

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Institutional Ownership by Quarter for Tsakos Energy Navigation (NYSE:TNP)

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