StockNews.com Initiates Coverage on Tsakos Energy Navigation (NYSE:TNP)

StockNews.com assumed coverage on shares of Tsakos Energy Navigation (NYSE:TNP) in a report issued on Friday. The brokerage issued a hold rating on the shipping company’s stock.

Tsakos Energy Navigation Stock Performance

Tsakos Energy Navigation stock opened at $29.28 on Friday. The stock’s 50 day moving average price is $29.44 and its 200 day moving average price is $26.17. The firm has a market capitalization of $864.05 million, a PE ratio of 5.94 and a beta of -0.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.51 and a current ratio of 1.58. Tsakos Energy Navigation has a one year low of $16.96 and a one year high of $31.48.

Tsakos Energy Navigation Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, July 18th. Investors of record on Friday, July 12th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 12th. This is a positive change from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30. This represents a yield of 4.2%. Tsakos Energy Navigation’s payout ratio is 12.17%.

Hedge Funds Weigh In On Tsakos Energy Navigation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foundation Resource Management Inc. raised its position in shares of Tsakos Energy Navigation by 0.6% in the 1st quarter. Foundation Resource Management Inc. now owns 369,134 shares of the shipping company’s stock valued at $9,372,000 after purchasing an additional 2,032 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Tsakos Energy Navigation by 4.5% in the 2nd quarter. Principal Financial Group Inc. now owns 55,169 shares of the shipping company’s stock valued at $1,615,000 after purchasing an additional 2,393 shares in the last quarter. Jump Financial LLC raised its position in shares of Tsakos Energy Navigation by 8.0% in the 4th quarter. Jump Financial LLC now owns 48,035 shares of the shipping company’s stock valued at $1,067,000 after purchasing an additional 3,539 shares in the last quarter. Claro Advisors LLC acquired a new position in shares of Tsakos Energy Navigation in the 1st quarter valued at approximately $214,000. Finally, Quadrature Capital Ltd raised its position in shares of Tsakos Energy Navigation by 29.0% during the 1st quarter. Quadrature Capital Ltd now owns 54,786 shares of the shipping company’s stock valued at $1,391,000 after acquiring an additional 12,322 shares in the last quarter. 19.24% of the stock is owned by institutional investors and hedge funds.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.