Tsakos Energy Navigation (NYSE:TEN) Rating Increased to Buy at Wall Street Zen

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

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

Tsakos Energy Navigation Stock Performance

Shares of NYSE TEN opened at $33.76 on Friday. Tsakos Energy Navigation has a 52-week low of $13.40 and a 52-week high of $38.87. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.57 and a beta of -0.27. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $29.10 and its 200 day simple moving average is $25.19.

Tsakos Energy Navigation (NYSE:TEN) last released its quarterly earnings results on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.93. The business had revenue of $182.96 million during the quarter, compared to analyst estimates of $162.84 million. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%. As a group, sell-side analysts forecast that Tsakos Energy Navigation will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Tsakos Energy Navigation

A number of hedge funds have recently made changes to their positions in TEN. EverSource Wealth Advisors LLC grew its position in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 993 shares in the last quarter. Barclays PLC purchased a new stake in Tsakos Energy Navigation in the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its stake in shares of Tsakos Energy Navigation by 186.5% during 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 period. Summit Securities Group LLC purchased a new position in shares of Tsakos Energy Navigation during the 4th quarter valued at $56,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tsakos Energy Navigation in the second quarter worth $58,000. 19.24% of the stock is owned by hedge funds and other institutional investors.

Tsakos Energy Navigation Company Profile

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.