Arrowstreet Capital Limited Partnership raised its stake in Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 813,845 shares of the company's stock after acquiring an additional 151,195 shares during the period. Arrowstreet Capital Limited Partnership owned 2.70% of Tsakos Energy Navigation worth $32,114,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in Tsakos Energy Navigation by 312.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock valued at $25,000 after buying an additional 993 shares during the period. Barclays PLC acquired a new stake in Tsakos Energy Navigation during the 4th quarter worth about $36,000. Smartleaf Asset Management LLC lifted its position in shares of Tsakos Energy Navigation by 186.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,435 shares of the company's stock valued at $54,000 after acquiring an additional 1,585 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the fourth quarter worth $56,000. Finally, Raymond James Financial Inc. acquired a new stake in Tsakos Energy Navigation during the 2nd quarter worth about $58,000. Institutional investors own 19.24% of the company's stock.
Tsakos Energy Navigation Stock Performance
Shares of Tsakos Energy Navigation stock opened at $39.24 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 6.39 and a beta of -0.28. Tsakos Energy Navigation Ltd has a one year low of $18.80 and a one year high of $45.85. The stock's 50-day moving average is $38.71 and its 200-day moving average is $35.98. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.92.
Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The company reported $2.72 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.65. Tsakos Energy Navigation had a net margin of 24.81% and a return on equity of 23.26%. The business had revenue of $223.12 million for the quarter, compared to analyst estimates of $208.77 million.
Tsakos Energy Navigation Dividend Announcement
The company also recently announced a dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 23rd will be issued a dividend of $1.00 per share. This represents a yield of 507.0%. The ex-dividend date is Thursday, July 23rd. Tsakos Energy Navigation's payout ratio is presently 32.57%.
Analysts Set New Price Targets
TEN has been the topic of several research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tsakos Energy Navigation in a research report on Monday, July 6th. Wall Street Zen raised Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.50.
Read Our Latest Stock Report on TEN
About Tsakos Energy Navigation
(
Free Report)
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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