Tsakos Energy Navigation (NYSE:TEN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.05 and traded as high as $22.76. Tsakos Energy Navigation shares last traded at $22.2440, with a volume of 137,496 shares traded.

Analyst Upgrades and Downgrades

TEN has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Tuesday, October 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. Finally, Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Trading Down 1.7%

The company has a market capitalization of $670.21 million, a P/E ratio of 6.99 and a beta of -0.24. The business has a 50 day moving average price of $23.91 and a 200 day moving average price of $22.05. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90.

Tsakos Energy Navigation (NYSE:TEN) last posted its earnings results on Thursday, November 20th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. Tsakos Energy Navigation had a return on equity of 13.36% and a net margin of 15.97%.The firm had revenue of $158.84 million during the quarter, compared to analysts’ expectations of $170.78 million. Analysts anticipate that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current year.

Tsakos Energy Navigation Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tsakos Energy Navigation by 602.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company’s stock worth $15,917,000 after acquiring an additional 711,313 shares during the period. Pale Fire Capital SE grew its stake in Tsakos Energy Navigation by 2.1% during the second quarter. Pale Fire Capital SE now owns 360,433 shares of the company’s stock worth $6,917,000 after buying an additional 7,376 shares in the last quarter. Foundation Resource Management Inc. raised its position in shares of Tsakos Energy Navigation by 0.7% in the 3rd quarter. Foundation Resource Management Inc. now owns 352,024 shares of the company’s stock valued at $7,822,000 after buying an additional 2,443 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Tsakos Energy Navigation by 347.1% during the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock worth $6,380,000 after acquiring an additional 222,931 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Tsakos Energy Navigation by 693.1% during the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company’s stock worth $2,384,000 after acquiring an additional 108,561 shares in the last quarter. Institutional investors and hedge funds 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.