Tsakos Energy Navigation Ltd. (TNP) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) by 218.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,107 shares of the shipping company’s stock after purchasing an additional 221,587 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Tsakos Energy Navigation worth $1,473,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Tsakos Energy Navigation by 37.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock worth $10,739,000 after purchasing an additional 653,517 shares during the last quarter. WFG Advisors LP lifted its position in Tsakos Energy Navigation by 0.3% in the second quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock valued at $248,000 after acquiring an additional 156 shares during the last quarter. Afam Capital Inc. lifted its position in Tsakos Energy Navigation by 69.8% in the second quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock valued at $2,592,000 after acquiring an additional 221,995 shares during the last quarter. State Street Corp lifted its position in Tsakos Energy Navigation by 15.7% in the second quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock valued at $538,000 after acquiring an additional 15,231 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Tsakos Energy Navigation by 4.4% in the second quarter. Stifel Financial Corp now owns 264,892 shares of the shipping company’s stock valued at $1,273,000 after acquiring an additional 11,238 shares during the last quarter. 25.96% of the stock is owned by institutional investors and hedge funds.

Shares of Tsakos Energy Navigation Ltd. (NYSE TNP) opened at $3.92 on Thursday. Tsakos Energy Navigation Ltd. has a 1 year low of $3.82 and a 1 year high of $5.27. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. The firm has a market cap of $330.74, a price-to-earnings ratio of 19.60, a P/E/G ratio of 0.80 and a beta of 1.52.

Tsakos Energy Navigation (NYSE:TNP) last announced its earnings results on Thursday, November 30th. The shipping company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Tsakos Energy Navigation had a net margin of 5.64% and a return on equity of 2.02%. The business had revenue of $96.92 million during the quarter, compared to analysts’ expectations of $101.62 million. equities analysts predict that Tsakos Energy Navigation Ltd. will post 0.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Thursday, December 21st were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.10%. Tsakos Energy Navigation’s payout ratio is 100.00%.

A number of brokerages recently weighed in on TNP. Jefferies Group began coverage on shares of Tsakos Energy Navigation in a research report on Monday, December 18th. They issued a “buy” rating and a $6.00 price target for the company. Cowen reduced their price target on shares of Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Morgan Stanley reduced their price target on shares of Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating for the company in a research report on Monday, September 18th. ValuEngine cut shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Maxim Group set a $6.00 price target on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research report on Thursday, November 30th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Tsakos Energy Navigation has a consensus rating of “Hold” and an average target price of $5.50.

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Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd 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 57 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.

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Institutional Ownership by Quarter for Tsakos Energy Navigation (NYSE:TNP)

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