Sanctuary Advisors LLC Makes New $1 Million Investment in Tsakos Energy Navigation Ltd $TEN

Sanctuary Advisors LLC acquired a new stake in shares of Tsakos Energy Navigation Ltd (NYSE:TEN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,356 shares of the company’s stock, valued at approximately $1,001,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 993 shares during the last quarter. Barclays PLC bought a new position in shares of Tsakos Energy Navigation during the fourth quarter worth $36,000. Smartleaf Asset Management LLC grew its stake in Tsakos Energy Navigation by 186.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock valued at $54,000 after acquiring an additional 1,585 shares in the last quarter. Summit Securities Group LLC bought a new stake in Tsakos Energy Navigation in the 4th quarter valued at $56,000. Finally, Raymond James Financial Inc. purchased a new stake in Tsakos Energy Navigation in the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Tsakos Energy Navigation Price Performance

Shares of TEN stock opened at $39.33 on Friday. The stock’s 50-day moving average is $38.86 and its 200 day moving average is $35.66. The company has a market cap of $1.18 billion, a P/E ratio of 6.40 and a beta of -0.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92. Tsakos Energy Navigation Ltd has a 1-year low of $18.80 and a 1-year high of $45.85.

Tsakos Energy Navigation (NYSE:TEN) last released its earnings results on Thursday, May 21st. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.65. The company had revenue of $223.12 million during the quarter, compared to analysts’ expectations of $208.77 million. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Tsakos Energy Navigation Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd will be paid a dividend of $1.00 per share. This represents a dividend yield of 507.0%. The ex-dividend date of this dividend is Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio is presently 32.57%.

Insider Activity

In related news, CEO Nikolaos Tsakos purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $39.92 per share, with a total value of $499,000.00. Following the purchase, the chief executive officer owned 906,000 shares of the company’s stock, valued at $36,167,520. The trade was a 1.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tsakos Energy Navigation has an average rating of “Hold” and a consensus price target of $29.50.

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.