Tsakos Energy Navigation (NYSE:TEN) Upgraded by Wall Street Zen to Buy Rating

Tsakos Energy Navigation (NYSE:TEN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

TEN has been the topic of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 price objective on shares of Tsakos Energy Navigation in a report on Thursday, November 20th. Finally, Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a research report on Monday, December 15th. They set a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Tsakos Energy Navigation presently has a consensus rating of “Hold” and an average price target of $29.50.

Tsakos Energy Navigation Trading Down 3.0%

Shares of NYSE TEN opened at $33.76 on Friday. The business has a 50 day simple moving average of $29.10 and a 200 day simple moving average of $25.19. Tsakos Energy Navigation has a 52 week low of $13.40 and a 52 week high of $38.87. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 7.57 and a beta of -0.27. 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 issued its quarterly earnings data on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.93. The firm had revenue of $182.96 million for the quarter, compared to analyst estimates of $162.84 million. Tsakos Energy Navigation had a net margin of 20.15% and a return on equity of 26.29%. On average, research analysts predict that Tsakos Energy Navigation will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted 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 buying an additional 993 shares during the last quarter. Barclays PLC bought a new stake in shares of Tsakos Energy Navigation during the 4th quarter worth $36,000. Smartleaf Asset Management LLC grew 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 valued at $54,000 after buying an additional 1,585 shares during the last quarter. Summit Securities Group LLC bought a new position in Tsakos Energy Navigation in the 4th quarter worth $56,000. Finally, Morse Asset Management Inc lifted its position in Tsakos Energy Navigation by 255.6% during the 4th quarter. Morse Asset Management Inc now owns 2,845 shares of the company’s stock worth $64,000 after acquiring an additional 2,045 shares during 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.