Tsakos Energy Navigation (NYSE:TEN) Stock Price Up 4.8% After Earnings Beat

Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report)'s share price was up 4.8% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $19.95 and last traded at $19.80. Approximately 102,832 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 295,820 shares. The stock had previously closed at $18.89.

The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.63. The business had revenue of $153.51 million during the quarter, compared to analysts' expectations of $154.01 million. Tsakos Energy Navigation had a net margin of 20.00% and a return on equity of 10.63%. During the same period in the prior year, the company earned $1.05 EPS.

Tsakos Energy Navigation Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, July 14th will be given a $0.60 dividend. This represents a yield of 5.7%. The ex-dividend date of this dividend is Monday, July 14th. Tsakos Energy Navigation's dividend payout ratio (DPR) is currently 40.09%.

Analyst Ratings Changes

A number of research firms have recently commented on TEN. Wall Street Zen lowered shares of Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Jefferies Financial Group upped their price objective on shares of Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Tuesday.

Institutional Investors Weigh In On Tsakos Energy Navigation

An institutional investor recently bought a new position in Tsakos Energy Navigation stock. Hsbc Holdings PLC acquired a new stake in Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,638 shares of the company's stock, valued at approximately $267,000. Hsbc Holdings PLC owned about 0.05% of Tsakos Energy Navigation as of its most recent filing with the SEC. 19.24% of the stock is currently owned by institutional investors.

Tsakos Energy Navigation Stock Performance

The firm has a market capitalization of $626.22 million, a P/E ratio of 4.63 and a beta of -0.16. The company's 50 day moving average is $17.70 and its 200-day moving average is $17.33. The company has a quick ratio of 1.06, a current ratio of 1.11 and a debt-to-equity ratio of 0.85.

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.