Tsakos Energy Navigation (NYSE:TEN) Share Price Passes Above 200 Day Moving Average – Here’s Why

Tsakos Energy Navigation Ltd (NYSE:TEN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.37 and traded as high as $26.05. Tsakos Energy Navigation shares last traded at $25.5460, with a volume of 425,380 shares.

Analysts Set New Price Targets

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

Tsakos Energy Navigation Stock Performance

The company has a market capitalization of $769.70 million, a P/E ratio of 8.03 and a beta of -0.21. The stock’s fifty day moving average price is $23.95 and its 200-day moving average price is $22.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.30.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Thursday, November 20th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $158.84 million for the quarter, compared to analyst estimates 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, research analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a dividend yield of 399.0%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 31.45%.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds have recently bought and sold shares of the business. Counterpoint Mutual Funds LLC acquired a new position in Tsakos Energy Navigation in the 2nd quarter valued at $384,000. Tudor Investment Corp ET AL increased its position in shares of Tsakos Energy Navigation by 51.2% in the third quarter. Tudor Investment Corp ET AL now owns 77,110 shares of the company’s stock worth $1,713,000 after purchasing an additional 26,097 shares during the period. FourThought Financial Partners LLC acquired a new position in Tsakos Energy Navigation in the third quarter valued at about $328,000. Commons Capital LLC grew its stake in Tsakos Energy Navigation by 50.0% during the third quarter. Commons Capital LLC now owns 15,000 shares of the company’s stock worth $333,000 after buying an additional 5,000 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Tsakos Energy Navigation in the 3rd quarter valued at about $328,000. 19.24% of the stock is owned by institutional investors.

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.