Tsakos Energy Navigation (NYSE:TEN) Shares Gap Up - Still a Buy?

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) gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEN. Jefferies Financial Group restated a "hold" rating and set a $22.00 price objective on shares of Tsakos Energy Navigation in a report on Wednesday, September 10th. Zacks Research lowered shares of Tsakos Energy Navigation from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Tsakos Energy Navigation presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Tsakos Energy Navigation Stock Performance

The stock has a market capitalization of $710.16 million, a price-to-earnings ratio of 8.40 and a beta of -0.07. The company's fifty day simple moving average is $20.63 and its 200 day simple moving average is $18.50. 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 (NYSE:TEN - Get Free Report) last released its quarterly earnings data on Wednesday, September 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.59 by $0.08. Tsakos Energy Navigation had a net margin of 14.17% and a return on equity of 18.25%. The firm had revenue of $161.39 million for the quarter, compared to the consensus estimate of $163.62 million. On average, equities research analysts expect that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current year.

Tsakos Energy Navigation Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, July 18th. Investors of record on Monday, July 14th were paid a $0.60 dividend. The ex-dividend date was Monday, July 14th. This represents a dividend yield of 570.0%. Tsakos Energy Navigation's dividend payout ratio is 42.86%.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors and hedge funds have recently modified their holdings of TEN. EverSource Wealth Advisors LLC grew its stake 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 valued at $25,000 after acquiring an additional 993 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tsakos Energy Navigation in the 2nd quarter valued at approximately $58,000. Osaic Holdings Inc. boosted its stake in shares of Tsakos Energy Navigation by 9.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,821 shares of the company's stock valued at $150,000 after purchasing an additional 684 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Tsakos Energy Navigation by 13.2% in 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 in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Tsakos Energy Navigation in the 1st quarter valued at approximately $267,000. 19.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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