Tsakos Energy Navigation (NYSE:TEN) Shares Gap Up - Here's Why

Key Points

• Tsakos Energy Navigation Ltd (NYSE:TEN) saw its stock open at $23.27, up from a previous close of $22.29, with current trading at around $23.37.
• The company reported $0.67 EPS for the last quarter, surpassing estimates, and has an average rating of "Moderate Buy" from analysts.
• TEN recently declared a semi-annual $0.60 dividend, which represents a dividend yield of 570.0%, alongside a payout ratio of 42.86%.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $22.29, but opened at $23.27. Tsakos Energy Navigation shares last traded at $23.37, with a volume of 38,077 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEN. Jefferies Financial Group reaffirmed a "hold" rating and issued a $22.00 price objective on shares of Tsakos Energy Navigation in a research note on Wednesday, September 10th. Zacks Research lowered shares of Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Tsakos Energy Navigation has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Tsakos Energy Navigation Trading Down 2.0%

The stock has a market cap of $685.31 million, a P/E ratio of 8.12 and a beta of -0.07. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.11. The firm's fifty day simple moving average is $20.88 and its 200-day simple moving average is $18.71.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings results on Wednesday, September 10th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.08. 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 analysts' expectations of $163.62 million. Equities research analysts expect that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Tsakos Energy Navigation by 312.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the company's stock valued at $25,000 after purchasing an additional 993 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tsakos Energy Navigation in the second quarter worth about $58,000. Osaic Holdings Inc. raised its position in shares of Tsakos Energy Navigation by 9.6% in the second 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 period. Tidal Investments LLC raised its stake in shares of 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 during the period. Finally, Walleye Capital LLC bought a new position in Tsakos Energy Navigation in the 2nd quarter worth about $296,000. 19.24% of the stock is owned by hedge funds and other institutional investors.

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.