Raymond James & Associates Takes Position in Tsakos Energy Navigation Limited (NYSE:TNP)

Raymond James & Associates bought a new position in shares of Tsakos Energy Navigation Limited (NYSE:TNP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,942 shares of the shipping company’s stock, valued at approximately $532,000. Raymond James & Associates owned 0.08% of Tsakos Energy Navigation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in TNP. Counterpoint Mutual Funds LLC purchased a new position in Tsakos Energy Navigation during the 3rd quarter worth approximately $91,000. Wrapmanager Inc. acquired a new stake in shares of Tsakos Energy Navigation in the third quarter valued at about $201,000. Graham Capital Management L.P. purchased a new stake in shares of Tsakos Energy Navigation during the 3rd quarter worth approximately $403,000. Dfpg Investments LLC increased its position in shares of Tsakos Energy Navigation by 13.7% in the fourth quarter. Dfpg Investments LLC now owns 25,432 shares of the shipping company’s stock valued at $596,000 after buying an additional 3,064 shares in the last quarter. Finally, Navellier & Associates Inc. raised its position in Tsakos Energy Navigation by 15.9% during the third quarter. Navellier & Associates Inc. now owns 31,193 shares of the shipping company’s stock worth $648,000 after acquiring an additional 4,280 shares during the last quarter. Institutional investors and hedge funds own 19.24% of the company’s stock.

Tsakos Energy Navigation Price Performance

Shares of Tsakos Energy Navigation stock opened at $25.35 on Friday. Tsakos Energy Navigation Limited has a 1-year low of $15.50 and a 1-year high of $27.20. The business has a 50-day moving average of $24.83 and a 200-day moving average of $23.22. The company has a market capitalization of $748.08 million, a PE ratio of 2.81 and a beta of -0.14.

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). Tsakos Energy Navigation had a net margin of 33.74% and a return on equity of 44.36%. The company had revenue of $183.57 million during the quarter, compared to analyst estimates of $185.35 million. On average, equities analysts expect that Tsakos Energy Navigation Limited will post 9.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Tsakos Energy Navigation in a report on Wednesday, March 27th.

Tsakos Energy Navigation 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.