Raymond James & Associates Makes New Investment in Tsakos Energy Navigation Limited (NYSE:TNP)

Raymond James & Associates bought a new position in shares of Tsakos Energy Navigation Limited (NYSE:TNP) during the fourth quarter, HoldingsChannel.com reports. The firm bought 23,942 shares of the shipping company’s stock, valued at approximately $532,000.

Other hedge funds also recently made changes to their positions in the company. Foundation Resource Management Inc. grew its position in Tsakos Energy Navigation by 18.9% during the fourth quarter. Foundation Resource Management Inc. now owns 367,102 shares of the shipping company’s stock worth $8,157,000 after buying an additional 58,451 shares in the last quarter. Dfpg Investments LLC grew its holdings in shares of Tsakos Energy Navigation by 13.7% during the 4th quarter. Dfpg Investments LLC now owns 25,432 shares of the shipping company’s stock worth $596,000 after purchasing an additional 3,064 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Tsakos Energy Navigation in the third quarter worth $403,000. GSA Capital Partners LLP increased its position in shares of Tsakos Energy Navigation by 25.1% in the third quarter. GSA Capital Partners LLP now owns 69,056 shares of the shipping company’s stock worth $1,435,000 after purchasing an additional 13,858 shares during the period. Finally, Stifel Financial Corp raised its stake in Tsakos Energy Navigation by 18.4% in the third quarter. Stifel Financial Corp now owns 88,479 shares of the shipping company’s stock valued at $1,839,000 after purchasing an additional 13,778 shares in the last quarter. 19.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TNP has been the topic of several recent analyst reports. StockNews.com raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th.

Tsakos Energy Navigation Stock Up 2.3 %

Shares of TNP stock opened at $25.35 on Friday. The business has a fifty day simple moving average of $24.83 and a 200 day simple moving average of $23.22. The company has a market cap of $748.08 million, a P/E ratio of 2.81 and a beta of -0.14. Tsakos Energy Navigation Limited has a twelve month low of $15.50 and a twelve month high of $27.20.

Tsakos Energy Navigation (NYSE:TNP) last posted its earnings results on Wednesday, March 27th. The shipping company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.03). Tsakos Energy Navigation had a return on equity of 44.36% and a net margin of 33.74%. The company had revenue of $183.57 million during the quarter, compared to the consensus estimate of $185.35 million. As a group, equities research analysts anticipate that Tsakos Energy Navigation Limited will post 9.24 earnings per share for the current fiscal year.

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.