Trilogy Global Advisors LP lowered its position in shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) by 63.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,600 shares of the company’s stock after selling 249,649 shares during the period. Trilogy Global Advisors LP owned 0.17% of Tsakos Energy Navigation worth $707,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. LPL Financial LLC raised its position in Tsakos Energy Navigation by 0.4% in the first quarter. LPL Financial LLC now owns 138,200 shares of the company’s stock worth $791,000 after buying an additional 520 shares in the last quarter. Wall Street Access Asset Management LLC raised its position in Tsakos Energy Navigation by 4.4% in the second quarter. Wall Street Access Asset Management LLC now owns 23,500 shares of the company’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. Foundation Resource Management Inc. raised its position in Tsakos Energy Navigation by 0.3% in the second quarter. Foundation Resource Management Inc. now owns 591,985 shares of the company’s stock worth $2,776,000 after buying an additional 1,996 shares in the last quarter. Creative Planning raised its position in Tsakos Energy Navigation by 10.4% in the second quarter. Creative Planning now owns 26,500 shares of the company’s stock worth $124,000 after buying an additional 2,500 shares in the last quarter. Finally, Smith Asset Management Group LP raised its position in Tsakos Energy Navigation by 10.0% in the second quarter. Smith Asset Management Group LP now owns 129,580 shares of the company’s stock worth $608,000 after buying an additional 11,790 shares in the last quarter. Institutional investors and hedge funds own 31.38% of the company’s stock.
Tsakos Energy Navigation Ltd. (NYSE:TNP) opened at 4.63 on Friday. Tsakos Energy Navigation Ltd. has a 52-week low of $3.92 and a 52-week high of $8.12. The stock has a market capitalization of $389.63 million, a PE ratio of 3.79 and a beta of 2.13. The firm’s 50-day moving average is $4.69 and its 200 day moving average is $5.11.
Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings results on Friday, September 9th. The company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. The firm had revenue of $119.85 million for the quarter. Tsakos Energy Navigation had a net margin of 23.06% and a return on equity of 8.59%. Tsakos Energy Navigation’s quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that Tsakos Energy Navigation Ltd. will post $0.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, November 4th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.91%. Tsakos Energy Navigation’s payout ratio is 26.02%.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Morgan Stanley restated an “overweight” rating and issued a $6.50 price target (down previously from $8.00) on shares of Tsakos Energy Navigation in a research report on Friday, August 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $8.50.
Tsakos Energy Navigation Company Profile
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.