Tsakos Energy Navigation (NYSE:TNP) Shares Gap Down to $28.77

Tsakos Energy Navigation Limited (NYSE:TNP) gapped down prior to trading on Thursday . The stock had previously closed at $28.77, but opened at $28.11. Tsakos Energy Navigation shares last traded at $27.31, with a volume of 156,378 shares.

Analysts Set New Price Targets

TNP has been the subject of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research report on Wednesday, March 27th. StockNews.com cut shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Friday, May 10th.

Tsakos Energy Navigation Stock Performance

The stock has a market cap of $837.49 million, a price-to-earnings ratio of 5.76 and a beta of -0.12. The stock’s fifty day moving average is $28.42 and its 200-day moving average is $25.43. The company has a quick ratio of 1.51, a current ratio of 1.58 and a debt-to-equity ratio of 0.84.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Wednesday, March 27th. The shipping company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.03). The firm had revenue of $183.57 million for the quarter, compared to analyst estimates of $185.35 million. Tsakos Energy Navigation had a net margin of 21.41% and a return on equity of 16.78%. On average, analysts forecast that Tsakos Energy Navigation Limited will post 9.27 EPS for the current year.

Tsakos Energy Navigation Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, July 12th will be issued a $0.60 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, July 12th. This is a boost from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30. Tsakos Energy Navigation’s dividend payout ratio is 12.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Claro Advisors LLC acquired a new position in shares of Tsakos Energy Navigation in the first quarter valued at approximately $214,000. Norden Group LLC bought a new stake in shares of Tsakos Energy Navigation in the first quarter worth $314,000. Graham Capital Management L.P. bought a new stake in Tsakos Energy Navigation during the third quarter worth $403,000. Raymond James & Associates bought a new stake in Tsakos Energy Navigation during the fourth quarter worth $532,000. Finally, Dfpg Investments LLC raised its position in Tsakos Energy Navigation by 13.7% during the fourth quarter. Dfpg Investments LLC now owns 25,432 shares of the shipping company’s stock worth $596,000 after acquiring an additional 3,064 shares in the last quarter. Institutional investors and hedge funds own 19.24% of the company’s stock.

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.