Moors & Cabot Inc. Reduces Stock Position in Tsakos Energy Navigation Ltd $TEN

Moors & Cabot Inc. trimmed its stake in shares of Tsakos Energy Navigation Ltd (NYSE:TEN) by 82.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,770 shares of the company’s stock after selling 85,515 shares during the period. Moors & Cabot Inc. owned approximately 0.06% of Tsakos Energy Navigation worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Counterpoint Mutual Funds LLC bought a new stake in Tsakos Energy Navigation in the 2nd quarter worth approximately $384,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

Tsakos Energy Navigation Stock Performance

NYSE:TEN opened at $24.63 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.30. The stock has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $20.40. The firm has a market capitalization of $742.11 million, a PE ratio of 8.80 and a beta of -0.15. Tsakos Energy Navigation Ltd has a 52-week low of $13.40 and a 52-week high of $24.71.

Tsakos Energy Navigation (NYSE:TEN) last posted its quarterly earnings data on Wednesday, September 10th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The firm had revenue of $161.39 million for the quarter, compared to analysts’ expectations of $163.62 million. Tsakos Energy Navigation had a return on equity of 12.03% and a net margin of 14.17%. Analysts forecast that Tsakos Energy Navigation Ltd will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEN. Zacks Research cut Tsakos Energy Navigation from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Jefferies Financial Group reissued a “hold” rating and issued a $22.00 target price on shares of Tsakos Energy Navigation in a report on Wednesday, September 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tsakos Energy Navigation in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.00.

Tsakos Energy Navigation Profile

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.