Tsakos Energy Navigation (NYSE:TEN) Downgraded to “Hold” Rating by Wall Street Zen

Tsakos Energy Navigation (NYSE:TEN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

A number of other research firms have also commented on TEN. Clarkson Capital began coverage on shares of Tsakos Energy Navigation in a report on Monday, December 15th. They set a “buy” rating and a $35.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.50.

Tsakos Energy Navigation Price Performance

TEN opened at $35.64 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.30 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $30.28 and its 200 day simple moving average is $25.68. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 7.99 and a beta of -0.27. Tsakos Energy Navigation has a 1 year low of $13.40 and a 1 year high of $38.87.

Tsakos Energy Navigation (NYSE:TEN) last announced its quarterly earnings data on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.93. The firm had revenue of $182.96 million during the quarter, compared to the consensus estimate 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, analysts predict that Tsakos Energy Navigation will post 3.44 earnings per share for the current year.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of hedge funds and other institutional investors have recently made changes to their positions in TEN. FourThought Financial Partners LLC purchased a new position in Tsakos Energy Navigation during the 3rd quarter valued at $328,000. Fox Run Management L.L.C. purchased a new stake in shares of Tsakos Energy Navigation in the 3rd quarter worth about $328,000. Savant Capital LLC purchased a new stake in shares of Tsakos Energy Navigation in the 3rd quarter worth about $278,000. New York State Common Retirement Fund increased its position in shares of Tsakos Energy Navigation by 15.6% during the third quarter. New York State Common Retirement Fund now owns 45,883 shares of the company’s stock valued at $1,020,000 after buying an additional 6,202 shares during the period. Finally, State of Wyoming purchased a new position in shares of Tsakos Energy Navigation during the third quarter valued at about $198,000. Institutional investors own 19.24% of the company’s stock.

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.