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

Tsakos Energy Navigation Ltd (NYSE:TEN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.87 and traded as high as $22.62. Tsakos Energy Navigation shares last traded at $22.4710, with a volume of 253,417 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a research note on Monday, December 15th. They issued a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research note on Tuesday, October 14th. Zacks Research downgraded Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 target price on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.50.

Tsakos Energy Navigation Stock Performance

The firm’s fifty day moving average price is $23.87 and its 200 day moving average price is $21.87. The firm has a market cap of $677.05 million, a P/E ratio of 7.07 and a beta of -0.24. 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 released its quarterly earnings data 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. The firm had revenue of $158.84 million for the quarter, compared to the consensus estimate of $170.78 million. Tsakos Energy Navigation had a net margin of 15.97% and a return on equity of 13.36%. Sell-side analysts expect that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Dividend Announcement

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

Institutional Investors Weigh In On Tsakos Energy Navigation

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