Tsakos Energy Navigation (NYSE:TEN - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.59 by $0.08, Zacks reports. Tsakos Energy Navigation had a return on equity of 18.25% and a net margin of 14.17%.The firm had revenue of $161.39 million for the quarter, compared to analyst estimates of $163.62 million.
Tsakos Energy Navigation Stock Up 1.9%
Shares of Tsakos Energy Navigation stock traded up $0.41 on Friday, reaching $22.31. The company's stock had a trading volume of 536,779 shares, compared to its average volume of 466,277. The company has a market capitalization of $672.11 million, a price-to-earnings ratio of 7.97 and a beta of -0.07. The firm's fifty day simple moving average is $20.63 and its two-hundred day simple moving average is $18.48. Tsakos Energy Navigation has a 52 week low of $13.40 and a 52 week high of $26.90. The company has a quick ratio of 1.06, a current ratio of 1.11 and a debt-to-equity ratio of 0.85.
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 issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, July 14th. This represents a dividend yield of 570.0%. Tsakos Energy Navigation's dividend payout ratio (DPR) is presently 42.86%.
Institutional Trading of Tsakos Energy Navigation
Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tsakos Energy Navigation by 602.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock worth $15,917,000 after acquiring an additional 711,313 shares during the period. Jump Financial LLC grew its holdings in shares of Tsakos Energy Navigation by 693.1% in the second quarter. Jump Financial LLC now owns 124,223 shares of the company's stock worth $2,384,000 after acquiring an additional 108,561 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Tsakos Energy Navigation in the second quarter worth $761,000. JPMorgan Chase & Co. bought a new stake in shares of Tsakos Energy Navigation in the second quarter worth $672,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Tsakos Energy Navigation by 42.6% in the second quarter. Balyasny Asset Management L.P. now owns 33,606 shares of the company's stock worth $645,000 after acquiring an additional 10,038 shares during the period. Institutional investors own 19.24% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Zacks Research cut Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Jefferies Financial Group reaffirmed a "hold" rating and set a $22.00 price objective on shares of Tsakos Energy Navigation in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.
Read Our Latest Report on TEN
About Tsakos Energy Navigation
(
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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.
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