Tsakos Energy Navigation (NYSE:TEN) Reaches New 1-Year High – Here’s What Happened

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) reached a new 52-week high during trading on Monday . The company traded as high as $26.98 and last traded at $26.52, with a volume of 46605 shares. The stock had previously closed at $25.99.

Wall Street Analysts Forecast Growth

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

Tsakos Energy Navigation Stock Performance

The company has a market capitalization of $817.64 million, a PE ratio of 8.53 and a beta of -0.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.30. The stock’s fifty day simple moving average is $24.02 and its 200-day simple moving average is $22.67.

Tsakos Energy Navigation (NYSE:TEN) last issued its quarterly earnings results on Thursday, November 20th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. The company had revenue of $158.84 million during the quarter, compared to the consensus estimate 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 business also recently declared a dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 11th will be issued a $0.50 dividend. This represents a dividend yield of 399.0%. The ex-dividend date is Wednesday, February 11th. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 31.45%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position 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 valued at $25,000 after acquiring an additional 993 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Tsakos Energy Navigation during the 2nd quarter worth about $58,000. Osaic Holdings Inc. increased its position in Tsakos Energy Navigation by 9.6% during the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company’s stock worth $150,000 after purchasing an additional 684 shares in the last quarter. State of Wyoming purchased a new position in Tsakos Energy Navigation in the third quarter valued at approximately $198,000. Finally, MQS Management LLC acquired a new position in Tsakos Energy Navigation during the third quarter valued at approximately $222,000. 19.24% of the stock is owned by hedge funds and other 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.