Tsakos Energy Navigation (NYSE:TEN) Shares Up 6.8% – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN)’s share price was up 6.8% on Thursday . The stock traded as high as $38.10 and last traded at $37.7620. Approximately 73,256 shares traded hands during trading, a decline of 82% from the average daily volume of 406,301 shares. The stock had previously closed at $35.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEN. Wall Street Zen raised Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tsakos Energy Navigation has a consensus rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $39.70 and its 200-day moving average is $33.91. The company has a market capitalization of $1.12 billion, a P/E ratio of 6.08 and a beta of -0.28.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings data on Thursday, May 21st. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.07 by $0.65. The business had revenue of $223.12 million for the quarter, compared to analyst estimates 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 Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 23rd will be issued a dividend of $1.00 per share. This represents a dividend yield of 515.0%. The ex-dividend date is Thursday, July 23rd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 26.06%.

Insider Buying and Selling at Tsakos Energy Navigation

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

Institutional Investors Weigh In On Tsakos Energy Navigation

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 993 shares during the last quarter. Barclays PLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company’s stock worth $54,000 after purchasing an additional 1,585 shares in the last quarter. Summit Securities Group LLC bought a new position in Tsakos Energy Navigation in the 4th quarter worth about $56,000. Finally, Raymond James Financial Inc. purchased a new stake in Tsakos Energy Navigation during the 2nd quarter valued at about $58,000. 19.24% of the stock is owned by 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.