Tsakos Energy Navigation (NYSE:TNP) Receives “Buy” Rating from HC Wainwright

Tsakos Energy Navigation (NYSE:TNPGet Rating)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Monday, TipRanks reports. They currently have a $18.00 target price on the shipping company’s stock. HC Wainwright’s price target points to a potential upside of 45.16% from the stock’s previous close.

TNP has been the subject of several other research reports. StockNews.com initiated coverage on shares of Tsakos Energy Navigation in a report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, March 29th.

NYSE TNP traded up $0.25 on Monday, reaching $12.40. The company had a trading volume of 15,448 shares, compared to its average volume of 229,672. The firm has a market cap of $225.63 million, a price-to-earnings ratio of -1.40 and a beta of 0.11. Tsakos Energy Navigation has a fifty-two week low of $6.75 and a fifty-two week high of $12.60. The business has a 50 day moving average price of $8.84.

Tsakos Energy Navigation (NYSE:TNPGet Rating) last released its quarterly earnings results on Thursday, April 14th. The shipping company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.50). Tsakos Energy Navigation had a negative net margin of 27.72% and a negative return on equity of 4.38%. As a group, equities research analysts expect that Tsakos Energy Navigation will post 1.8 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Tsakos Energy Navigation during the 4th quarter valued at $26,000. Bank of America Corp DE raised its holdings in shares of Tsakos Energy Navigation by 217.3% during the fourth quarter. Bank of America Corp DE now owns 7,656 shares of the shipping company’s stock valued at $55,000 after purchasing an additional 5,243 shares during the period. Wells Fargo & Company MN boosted its position in shares of Tsakos Energy Navigation by 12.3% during the 4th quarter. Wells Fargo & Company MN now owns 27,576 shares of the shipping company’s stock worth $200,000 after purchasing an additional 3,012 shares in the last quarter. Morgan Stanley grew its stake in shares of Tsakos Energy Navigation by 200.2% in the 2nd quarter. Morgan Stanley now owns 25,700 shares of the shipping company’s stock valued at $221,000 after buying an additional 17,140 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Tsakos Energy Navigation by 19.7% in the 4th quarter. Parametric Portfolio Associates LLC now owns 32,200 shares of the shipping company’s stock valued at $233,000 after buying an additional 5,300 shares during the period. 34.27% of the stock is owned by institutional investors.

About Tsakos Energy Navigation (Get Rating)

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 2, 2021, it operated a fleet of 66 double-hull vessels, comprising of 61 conventional tankers, two LNG carriers, and three suezmax DP2 shuttle tankers.

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