Tsakos Energy Navigation (NYSE:TNP) Share Price Crosses Above 200-Day Moving Average of $23.37

Shares of Tsakos Energy Navigation Limited (NYSE:TNP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.37 and traded as high as $26.50. Tsakos Energy Navigation shares last traded at $26.23, with a volume of 258,551 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TNP. Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 price target on shares of Tsakos Energy Navigation in a research note on Wednesday, March 27th. StockNews.com raised Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a report on Saturday, April 13th.

Tsakos Energy Navigation Stock Down 1.1 %

The company has a market capitalization of $774.05 million, a PE ratio of 2.91 and a beta of -0.14. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.51 and a current ratio of 1.58. The firm has a fifty day simple moving average of $25.04 and a 200-day simple moving average of $23.40.

Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results 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 company had revenue of $183.57 million during the quarter, compared to analyst estimates of $185.35 million. Tsakos Energy Navigation had a net margin of 33.74% and a return on equity of 29.41%. Equities research analysts anticipate that Tsakos Energy Navigation Limited will post 9.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several institutional investors have recently made changes to their positions in the stock. Claro Advisors LLC bought a new position in shares of Tsakos Energy Navigation during the first quarter worth about $214,000. Wrapmanager Inc. bought a new position in Tsakos Energy Navigation in the 3rd quarter worth about $201,000. Norden Group LLC acquired a new stake in shares of Tsakos Energy Navigation in the first quarter valued at approximately $314,000. Graham Capital Management L.P. bought a new stake in shares of Tsakos Energy Navigation during the third quarter valued at approximately $403,000. Finally, Raymond James & Associates acquired a new position in shares of Tsakos Energy Navigation during the fourth quarter worth approximately $532,000. 19.24% of the stock is owned by institutional investors.

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.