York Capital Management Global Advisors LLC continued to hold its stake in Tsakos Energy Navigation Ltd (NYSE:TNP) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 484,684 shares of the shipping company’s stock at the end of the first quarter. York Capital Management Global Advisors LLC owned 0.58% of Tsakos Energy Navigation worth $2,322,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Tsakos Energy Navigation during the fourth quarter valued at $5,212,000. Old West Investment Management LLC raised its stake in shares of Tsakos Energy Navigation by 107.2% in the first quarter. Old West Investment Management LLC now owns 936,546 shares of the shipping company’s stock worth $4,486,000 after buying an additional 484,510 shares during the last quarter. Morgan Stanley raised its stake in shares of Tsakos Energy Navigation by 124.0% in the first quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock worth $2,129,000 after buying an additional 246,081 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Tsakos Energy Navigation during the fourth quarter worth about $1,021,000. Finally, Blair William & Co. IL bought a new position in shares of Tsakos Energy Navigation during the first quarter worth about $982,000. 27.51% of the stock is currently owned by institutional investors.
Shares of Tsakos Energy Navigation Ltd (TNP) traded up 0.83% during midday trading on Friday, reaching $4.88. The company had a trading volume of 415,243 shares. Tsakos Energy Navigation Ltd has a 52 week low of $3.92 and a 52 week high of $5.59. The stock has a 50-day moving average of $4.44 and a 200 day moving average of $4.67. The firm has a market capitalization of $409.75 million, a price-to-earnings ratio of 12.88 and a beta of 1.69.
Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings data on Friday, May 12th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $113.51 million. Tsakos Energy Navigation had a net margin of 9.61% and a return on equity of 3.40%. On average, analysts anticipate that Tsakos Energy Navigation Ltd will post $0.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Tuesday, July 11th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, July 7th. This represents a $0.20 annualized dividend and a dividend yield of 4.10%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 51.28%.
Several equities research analysts have recently commented on the company. Jefferies Group LLC restated a “buy” rating and set a $6.00 price objective on shares of Tsakos Energy Navigation in a report on Tuesday, July 4th. BidaskClub raised Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group reissued a “hold” rating and issued a $5.00 price objective on shares of Tsakos Energy Navigation in a research report on Friday, March 17th. Maxim Group reissued a “buy” rating and issued a $7.00 price objective on shares of Tsakos Energy Navigation in a research report on Tuesday, March 21st. Finally, Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.30.
About Tsakos Energy Navigation
Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 50 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.
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