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

StockNews.com began coverage on shares of Tsakos Energy Navigation (NYSE:TNP – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the shipping company’s stock.

Several other brokerages also recently issued reports on TNP. TheStreet upgraded Tsakos Energy Navigation from a c rating to a b- rating in a research report on Monday, December 5th. Stifel Nicolaus lifted their target price on shares of Tsakos Energy Navigation from $16.00 to $19.00 in a research note on Wednesday, November 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Tsakos Energy Navigation from $26.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, March 7th.

Tsakos Energy Navigation Trading Down 0.7 %

Shares of Tsakos Energy Navigation stock opened at $17.85 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.90 and a quick ratio of 0.81. Tsakos Energy Navigation has a 1 year low of $8.01 and a 1 year high of $24.78. The company has a market capitalization of $324.87 million, a P/E ratio of -7.50 and a beta of 0.13. The business has a 50 day moving average price of $19.86 and a 200 day moving average price of $18.17.

Institutional Trading of Tsakos Energy Navigation

Several institutional investors have recently made changes to their positions in TNP. Millennium Management LLC grew its stake in shares of Tsakos Energy Navigation by 89.6% during the 4th quarter. Millennium Management LLC now owns 1,048,370 shares of the shipping company’s stock valued at $17,749,000 after buying an additional 495,349 shares during the period. Marshall Wace LLP grew its stake in shares of Tsakos Energy Navigation by 171.1% during the 4th quarter. Marshall Wace LLP now owns 430,527 shares of the shipping company’s stock valued at $7,289,000 after buying an additional 271,733 shares during the period. Two Sigma Investments LP grew its stake in shares of Tsakos Energy Navigation by 88.4% during the 3rd quarter. Two Sigma Investments LP now owns 371,400 shares of the shipping company’s stock valued at $5,671,000 after buying an additional 174,231 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Tsakos Energy Navigation by 71.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 375,885 shares of the shipping company’s stock valued at $6,364,000 after buying an additional 156,989 shares during the period. Finally, Dorsey Wright & Associates purchased a new stake in shares of Tsakos Energy Navigation during the 4th quarter valued at $2,508,000. 36.87% of the stock is owned by hedge funds and other institutional investors.

Tsakos Energy Navigation Company Profile

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Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.