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

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

Tsakos Energy Navigation Price Performance

Shares of NYSE TNP opened at $29.28 on Friday. Tsakos Energy Navigation has a fifty-two week low of $16.96 and a fifty-two week high of $31.48. The stock has a market cap of $864.05 million, a price-to-earnings 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. The firm’s 50-day simple moving average is $29.44 and its 200 day simple moving average is $26.17.

Tsakos Energy Navigation Increases Dividend

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

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds have recently modified their holdings of the company. Foundation Resource Management Inc. lifted its position in shares of Tsakos Energy Navigation by 0.6% during the 1st quarter. Foundation Resource Management Inc. now owns 369,134 shares of the shipping company’s stock worth $9,372,000 after buying an additional 2,032 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Tsakos Energy Navigation by 4.5% during the 2nd quarter. Principal Financial Group Inc. now owns 55,169 shares of the shipping company’s stock worth $1,615,000 after buying an additional 2,393 shares in the last quarter. Jump Financial LLC lifted its position in shares of Tsakos Energy Navigation by 8.0% during the 4th quarter. Jump Financial LLC now owns 48,035 shares of the shipping company’s stock worth $1,067,000 after buying an additional 3,539 shares in the last quarter. Claro Advisors LLC bought a new position in shares of Tsakos Energy Navigation during the 1st quarter worth approximately $214,000. Finally, Quadrature Capital Ltd lifted 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 worth $1,391,000 after buying an additional 12,322 shares in the last quarter. Institutional investors own 19.24% of the company’s stock.

About Tsakos Energy Navigation

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.