Mirae Asset Global Investments Co. Ltd. Has $3.67 Million Stock Holdings in Tsakos Energy Navigation Limited (NYSE:TNP)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Tsakos Energy Navigation Limited (NYSE:TNP) by 18.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 165,249 shares of the shipping company’s stock after selling 38,149 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tsakos Energy Navigation were worth $3,672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TNP. Millennium Management LLC boosted its holdings in Tsakos Energy Navigation by 89.6% in the fourth quarter. Millennium Management LLC now owns 1,048,370 shares of the shipping company’s stock valued at $17,749,000 after acquiring an additional 495,349 shares during the last quarter. Marshall Wace LLP boosted its holdings in Tsakos Energy Navigation by 10.3% in the second quarter. Marshall Wace LLP now owns 518,534 shares of the shipping company’s stock valued at $9,240,000 after acquiring an additional 48,522 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Tsakos Energy Navigation by 20.6% in the fourth quarter. Two Sigma Investments LP now owns 447,857 shares of the shipping company’s stock valued at $7,582,000 after acquiring an additional 76,457 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Tsakos Energy Navigation by 7.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 404,801 shares of the shipping company’s stock valued at $7,865,000 after acquiring an additional 28,916 shares during the last quarter. Finally, Foundation Resource Management Inc. boosted its holdings in Tsakos Energy Navigation by 18.9% in the fourth quarter. Foundation Resource Management Inc. now owns 367,102 shares of the shipping company’s stock valued at $8,157,000 after acquiring an additional 58,451 shares during the last quarter. 19.24% of the stock is currently owned by institutional investors and hedge funds.

Tsakos Energy Navigation Trading Up 0.8 %

Shares of TNP opened at $25.32 on Wednesday. Tsakos Energy Navigation Limited has a 1 year low of $15.50 and a 1 year high of $27.20. The stock has a market cap of $747.19 million, a P/E ratio of 2.81 and a beta of -0.14. The stock’s 50-day moving average price is $24.74 and its two-hundred day moving average price is $23.02.

Analyst Upgrades and Downgrades

TNP has been the topic of several recent research reports. StockNews.com upgraded Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Tsakos Energy Navigation in a report on Wednesday, March 27th.

Tsakos Energy Navigation Company Profile

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. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.