Hsbc Holdings PLC Takes $267,000 Position in Tsakos Energy Navigation Ltd $TEN

Key Points

• Hsbc Holdings PLC acquired approximately 15,638 shares of Tsakos Energy Navigation Ltd, valued at about $267,000, representing around 0.05% ownership in the company.
• Tsakos Energy Navigation reported an earnings per share (EPS) of $0.92 for the most recent quarter, significantly beating analysts' expectations.
• The company has announced a semi-annual dividend of $0.60 per share, with a high yield of 570.0% and a dividend payout ratio of 26.73%.

Hsbc Holdings PLC purchased a new stake in shares of Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,638 shares of the company's stock, valued at approximately $267,000. Hsbc Holdings PLC owned about 0.05% of Tsakos Energy Navigation as of its most recent SEC filing.

Separately, Moors & Cabot Inc. grew its stake in shares of Tsakos Energy Navigation by 1.0% during the 1st quarter. Moors & Cabot Inc. now owns 104,285 shares of the company's stock valued at $1,779,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 19.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TEN shares. Wall Street Zen downgraded Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Jefferies Financial Group reiterated a "hold" rating and set a $22.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday. Finally, Zacks Research downgraded Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Tsakos Energy Navigation Trading Down 4.1%

Shares of TEN traded down $0.92 during midday trading on Wednesday, hitting $21.51. The stock had a trading volume of 706,873 shares, compared to its average volume of 417,204. Tsakos Energy Navigation Ltd has a 1 year low of $13.40 and a 1 year high of $26.90. The firm has a market cap of $648.19 million, a PE ratio of 4.79 and a beta of -0.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.11 and a quick ratio of 1.06. The stock's 50 day moving average is $20.56 and its 200 day moving average is $18.40.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its earnings results on Wednesday, September 10th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.08. Tsakos Energy Navigation had a net margin of 20.00% and a return on equity of 14.17%. As a group, analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, July 14th were paid a $0.60 dividend. The ex-dividend date was Monday, July 14th. This represents a yield of 570.0%. Tsakos Energy Navigation's dividend payout ratio (DPR) is presently 26.73%.

About Tsakos Energy Navigation

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.