Tsakos Energy Navigation (NYSE:TEN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Tsakos Energy Navigation Ltd (NYSE:TEN – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.16 and traded as high as $24.64. Tsakos Energy Navigation shares last traded at $24.1630, with a volume of 283,837 shares changing hands.

Analyst Ratings Changes

TEN has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Tuesday, October 14th. 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. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 target price on shares of Tsakos Energy Navigation in a research note on Thursday, November 20th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tsakos Energy Navigation currently has a consensus rating of “Hold” and a consensus price target of $32.00.

View Our Latest Research Report on TEN

Tsakos Energy Navigation Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $23.37 and its two-hundred day moving average price is $21.16. The company has a market cap of $727.98 million, a P/E ratio of 8.63 and a beta of -0.15.

Tsakos Energy Navigation (NYSE:TEN – Get Free Report) last announced its quarterly earnings data on Thursday, November 20th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. Tsakos Energy Navigation had a return on equity of 12.03% and a net margin of 14.17%.The firm had revenue of $158.84 million during the quarter, compared to analyst estimates of $170.78 million. As a group, sell-side analysts expect that Tsakos Energy Navigation Ltd will post 3.44 earnings per share for the current year.

Tsakos Energy Navigation Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 11th. This represents a yield of 399.0%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 31.45%.

Institutional Trading of Tsakos Energy Navigation

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 711,313 shares during the last quarter. Millennium Management LLC raised its stake in Tsakos Energy Navigation by 347.1% during the third quarter. Millennium Management LLC now owns 287,149 shares of the company’s stock worth $6,380,000 after acquiring an additional 222,931 shares during the period. Jump Financial LLC lifted its holdings in Tsakos Energy Navigation by 693.1% in the second quarter. Jump Financial LLC now owns 124,223 shares of the company’s stock worth $2,384,000 after acquiring an additional 108,561 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of Tsakos Energy Navigation during the second quarter valued at approximately $761,000. Finally, Squarepoint Ops LLC raised its position in shares of Tsakos Energy Navigation by 287.0% during the 3rd quarter. Squarepoint Ops LLC now owns 52,842 shares of the company’s stock worth $1,174,000 after purchasing an additional 39,188 shares during the period. 19.24% of the stock is owned by institutional investors and hedge funds.

About Tsakos Energy Navigation

(Get Free Report)

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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