Tsakos Energy Navigation (NYSE:TEN) Trading Down 4% - Here's What Happened

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN - Get Free Report) dropped 4% during trading on Tuesday . The company traded as low as $19.39 and last traded at $19.53. Approximately 241,200 shares changed hands during trading, a decline of 23% from the average daily volume of 314,476 shares. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Tsakos Energy Navigation from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Tuesday, June 17th. Wall Street Zen cut Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th.

Tsakos Energy Navigation Stock Down 4.4%

The company has a current ratio of 1.11, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $585.67 million, a P/E ratio of 4.33 and a beta of -0.16. The stock's 50-day simple moving average is $17.79 and its 200-day simple moving average is $17.33.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.63. The company had revenue of $153.51 million during the quarter, compared to analyst estimates of $154.01 million. Tsakos Energy Navigation had a return on equity of 10.63% and a net margin of 20.00%. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, research analysts predict that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current fiscal year.

Tsakos Energy Navigation Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, July 14th will be paid a dividend of $0.60 per share. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, July 14th. Tsakos Energy Navigation's payout ratio is 40.09%.

Hedge Funds Weigh In On Tsakos Energy Navigation

A hedge fund recently raised its stake in Tsakos Energy Navigation stock. Moors & Cabot Inc. grew its stake in shares of Tsakos Energy Navigation Ltd (NYSE:TEN - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,285 shares of the company's stock after acquiring an additional 1,000 shares during the period. Moors & Cabot Inc. owned about 0.35% of Tsakos Energy Navigation worth $1,779,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.24% of the company's stock.

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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