Tsakos Energy Navigation (NYSE:TEN) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Tsakos Energy Navigation's stock price recently surpassed its 200-day moving average of $17.86, reaching a high of $20.34 during trading.
• Analysts have given mixed ratings, with Wall Street Zen downgrading to a "sell" while Jefferies raised the target price from $18.00 to $21.00 and maintained a "hold" rating.
• The company reported a record EPS of $0.92 for the last quarter, significantly exceeding analysts' estimates, despite a slight revenue miss.

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.86 and traded as high as $20.34. Tsakos Energy Navigation shares last traded at $19.80, with a volume of 181,438 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group upped their target price on Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Tuesday, June 17th. Wall Street Zen cut Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a report on Thursday, May 15th.

Tsakos Energy Navigation Stock Up 2.3%

The firm has a 50 day simple moving average of $19.83 and a two-hundred day simple moving average of $17.94. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.11 and a quick ratio of 1.06. The stock has a market cap of $615.86 million, a price-to-earnings ratio of 4.55 and a beta of -0.09.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.63. Tsakos Energy Navigation had a return on equity of 14.17% and a net margin of 20.00%. The company had revenue of $153.51 million for the quarter, compared to analyst estimates of $154.01 million. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, sell-side analysts expect that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current year.

Tsakos Energy Navigation Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, July 14th were paid a $0.60 dividend. This represents a yield of 570.0%. The ex-dividend date was Monday, July 14th. Tsakos Energy Navigation's dividend payout ratio (DPR) is currently 26.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tsakos Energy Navigation by 602.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 829,437 shares of the company's stock valued at $15,917,000 after acquiring an additional 711,313 shares in the last quarter. Pale Fire Capital SE raised its holdings in Tsakos Energy Navigation by 2.1% in the 2nd quarter. Pale Fire Capital SE now owns 360,433 shares of the company's stock valued at $6,917,000 after acquiring an additional 7,376 shares in the last quarter. Jump Financial LLC raised its holdings in Tsakos Energy Navigation by 693.1% in the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company's stock valued at $2,384,000 after acquiring an additional 108,561 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Tsakos Energy Navigation by 1.0% during the 1st quarter. Moors & Cabot Inc. now owns 104,285 shares of the company's stock worth $1,779,000 after buying an additional 1,000 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Tsakos Energy Navigation during the 2nd quarter worth $761,000. 19.24% of the stock is currently owned by 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.