Tsakos Energy Navigation (NYSE:TEN) Hits New 1-Year High – Time to Buy?

Tsakos Energy Navigation Ltd (NYSE:TEN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.91 and last traded at $39.0750, with a volume of 132854 shares. The stock had previously closed at $38.04.

Analysts Set New Price Targets

Several analysts have recently commented on TEN shares. Wall Street Zen lowered shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, January 9th. Finally, Clarkson Capital began coverage on Tsakos Energy Navigation in a research note on Monday, December 15th. They issued a “buy” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Tsakos Energy Navigation currently has a consensus rating of “Hold” and a consensus target price of $29.50.

Tsakos Energy Navigation Price Performance

The company has a 50 day moving average of $30.55 and a 200 day moving average of $25.83. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.80 and a beta of -0.27. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90.

Tsakos Energy Navigation (NYSE:TEN) last released its earnings results on Friday, March 6th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.93. Tsakos Energy Navigation had a net margin of 20.15% and a return on equity of 26.29%. The business had revenue of $182.96 million for the quarter, compared to analysts’ expectations of $162.84 million. As a group, equities research analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TEN. EverSource Wealth Advisors LLC boosted its holdings in Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares during the last quarter. Barclays PLC purchased a new stake in Tsakos Energy Navigation during the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC raised its position in shares of Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after purchasing an additional 1,585 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Tsakos Energy Navigation during the 4th quarter valued at approximately $56,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $58,000. 19.24% of the stock is owned by institutional investors and hedge funds.

Tsakos Energy Navigation Company Profile

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.