Tsakos Energy Navigation (NYSE:TEN) Sets New 52-Week High - Time to Buy?

Key Points

• Tsakos Energy Navigation hit a new 52-week high intraday at $41.25 (last traded $40.38) and has a market cap of about $1.2 billion with a P/E of 8.95, supported by 50- and 200-day moving averages of $33.25 and $26.99 respectively.
• Analyst coverage is mixed: Clarkson Capital recently initiated coverage with a buy and $35 target, but the consensus across analysts is a Hold rating with an average price target of $29.50 (one Buy, three Holds).
• The company posted a strong quarter, reporting $1.70 EPS versus $0.77 expected and $182.96M revenue versus $162.84M expected, with a net margin of 20.15% and ROE of 26.29%; analysts project $3.44 EPS for the current fiscal year.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $41.25 and last traded at $40.3750, with a volume of 38904 shares trading hands. The stock had previously closed at $40.71.

Analyst Upgrades and Downgrades

TEN has been the subject of several analyst reports. Clarkson Capital assumed coverage on shares of Tsakos Energy Navigation in a research note on Monday, December 15th. They issued a "buy" rating and a $35.00 price objective for the company. Wall Street Zen downgraded Tsakos Energy Navigation from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.50.

Tsakos Energy Navigation Price Performance

The stock has a market capitalization of $1.20 billion, a P/E ratio of 8.95 and a beta of -0.30. The company has a 50 day simple moving average of $33.25 and a 200-day simple moving average of $26.99.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its earnings results on Friday, March 6th. The company reported $1.70 earnings per share for the quarter, topping 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 net margin of 20.15% and a return on equity of 26.29%. As a group, equities analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

A number of large investors have recently made changes to their positions in TEN. JPMorgan Chase & Co. bought a new position in shares of Tsakos Energy Navigation in the second quarter worth $672,000. Hsbc Holdings PLC boosted its holdings in shares of Tsakos Energy Navigation by 91.1% in the second quarter. Hsbc Holdings PLC now owns 29,880 shares of the company's stock worth $573,000 after acquiring an additional 14,242 shares during the period. New York State Common Retirement Fund bought a new position in shares of Tsakos Energy Navigation in the second quarter worth $761,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tsakos Energy Navigation by 312.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock worth $25,000 after buying an additional 993 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Tsakos Energy Navigation in the second quarter valued at approximately $296,000. 19.24% of the stock is owned by institutional investors.

About Tsakos Energy Navigation

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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