Tsakos Energy Navigation (NYSE:TEN) Posts Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Tsakos Energy Navigation reported EPS of $3.14, beating analysts’ consensus estimate of $2.93 by $0.21. The company posted a 24.81% net margin and 23.26% return on equity.
• Shares rose 2.6% to $45.45, near the company’s 12-month high of $46.65. The stock trades at a price-to-earnings ratio of 7.42 and has a market capitalization of approximately $1.37 billion.
• The company paid a $1.00 dividend, while analysts maintained a generally neutral view: one Buy rating and two Holds, with a consensus price target of $29.50.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.93 by $0.21, Zacks reports. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%.

Tsakos Energy Navigation Trading Up 2.6%

Shares of NYSE:TEN traded up $1.13 during trading on Thursday, reaching $45.45. The company's stock had a trading volume of 222,428 shares, compared to its average volume of 356,858. The firm's 50 day simple moving average is $40.38 and its two-hundred day simple moving average is $39.16. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. Tsakos Energy Navigation has a 12 month low of $20.50 and a 12 month high of $46.65. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.42 and a beta of -0.26.

Tsakos Energy Navigation Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 23rd were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a dividend yield of 507.0%. Tsakos Energy Navigation's dividend payout ratio (DPR) is presently 32.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Tsakos Energy Navigation in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Tsakos Energy Navigation has an average rating of "Hold" and a consensus target price of $29.50.

Insider Activity at Tsakos Energy Navigation

In other news, Director Clio Hatzimichalis sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.07, for a total transaction of $205,350.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $205,350. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.41% of the company's stock.

Institutional Investors Weigh In On Tsakos Energy Navigation

Several institutional investors have recently made changes to their positions in TEN. Osaic Holdings Inc. grew its holdings in Tsakos Energy Navigation by 9.6% during the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company's stock valued at $150,000 after purchasing an additional 684 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Tsakos Energy Navigation by 312.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after acquiring an additional 993 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Tsakos Energy Navigation by 1.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 78,555 shares of the company's stock worth $1,761,000 after purchasing an additional 1,445 shares in the last quarter. Tidal Investments LLC raised its position in Tsakos Energy Navigation by 13.2% during the 2nd quarter. Tidal Investments LLC now owns 12,733 shares of the company's stock valued at $244,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position 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 worth $54,000 after buying an additional 1,585 shares in the last quarter. 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.

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