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

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Friday, January 9th. 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 price target for the company. Finally, Wall Street Zen lowered Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average is $30.55 and its two-hundred day moving average is $25.83. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.80 and a beta of -0.27.

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

Institutional Trading of Tsakos Energy Navigation

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 993 shares in the last quarter. Barclays PLC bought a new stake in shares of Tsakos Energy Navigation in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC lifted 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 purchasing an additional 1,585 shares during the last quarter. Summit Securities Group LLC bought a new stake in Tsakos Energy Navigation during the fourth quarter worth approximately $56,000. Finally, Morse Asset Management Inc boosted its holdings in Tsakos Energy Navigation by 255.6% during the fourth quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock worth $64,000 after buying an additional 2,045 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

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.