Tsakos Energy Navigation (NYSE:TEN) Hits New 1-Year High – What’s Next?

Tsakos Energy Navigation Ltd (NYSE:TEN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $28.49 and last traded at $27.96, with a volume of 43634 shares changing hands. The stock had previously closed at $28.32.

Wall Street Analyst Weigh In

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

Tsakos Energy Navigation Stock Up 2.3%

The firm’s 50 day simple moving average is $24.99 and its 200 day simple moving average is $23.55. The company has a market cap of $916.28 million, a price-to-earnings ratio of 9.54 and a beta of -0.21. 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 issued its quarterly earnings data on Thursday, November 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $158.84 million during 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%. 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 993 shares in the last quarter. Barclays PLC acquired a new position in shares of Tsakos Energy Navigation during the 4th quarter valued at $36,000. Smartleaf Asset Management LLC raised its stake 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 worth $54,000 after buying an additional 1,585 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter valued at $56,000. Finally, Raymond James Financial Inc. acquired a new position in Tsakos Energy Navigation during the second quarter worth about $58,000. 19.24% of the stock is currently 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.