Tsakos Energy Navigation (NYSE:TEN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Tsakos Energy Navigation (NYSE:TEN) from a "hold" to a "buy" in a recent research note.
• The company reported a strong quarter, with $1.70 EPS vs. $0.77 expected and revenue of $182.96M versus $162.84M, and posted a 26.29% return on equity and a 20.15% net margin.
• TEN shares opened around $39 with a $1.18B market cap and a 52-week high of $41.25, while analysts' average price target is $29.50 and several institutional investors (including MIRAE, Millennium and Goldman) significantly increased stakes.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other analysts have also issued reports on TEN. Clarkson Capital initiated coverage on Tsakos Energy Navigation in a research note on Monday, December 15th. They issued a "buy" rating and a $35.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Tsakos Energy Navigation in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $29.50.

Tsakos Energy Navigation Stock Up 1.7%

TEN opened at $39.00 on Friday. The firm has a market cap of $1.18 billion, a P/E ratio of 8.75 and a beta of -0.30. Tsakos Energy Navigation has a 52 week low of $14.79 and a 52 week high of $41.25. The business's fifty day simple moving average is $34.20 and its 200 day simple moving average is $27.38.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.93. The business had revenue of $182.96 million for the quarter, compared to analyst estimates of $162.84 million. Tsakos Energy Navigation had a return on equity of 26.29% and a net margin of 20.15%. As a group, equities analysts expect that Tsakos Energy Navigation will post 3.44 EPS for the current fiscal year.

Institutional Trading of Tsakos Energy Navigation

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 worth $15,917,000 after purchasing an additional 711,313 shares during the period. Millennium Management LLC raised its holdings in shares of Tsakos Energy Navigation by 347.1% in the 3rd quarter. Millennium Management LLC now owns 287,149 shares of the company's stock worth $6,380,000 after purchasing an additional 222,931 shares during the period. Jump Financial LLC raised its holdings in shares of Tsakos Energy Navigation by 693.1% in the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company's stock worth $2,384,000 after purchasing an additional 108,561 shares during the period. Sagil Capital LLP raised its holdings in shares of Tsakos Energy Navigation by 13.7% in the 4th quarter. Sagil Capital LLP now owns 861,366 shares of the company's stock worth $19,312,000 after purchasing an additional 103,801 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Tsakos Energy Navigation by 153.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 100,494 shares of the company's stock worth $2,253,000 after purchasing an additional 60,783 shares during the period. 19.24% of the stock is owned by institutional investors and hedge funds.

Tsakos Energy Navigation Company Profile

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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