Renaissance Technologies LLC recently announced the acquisition of new stake in Tsakos Energy Navigation Limited (NYSE:TNP). The institutional investor has increased its shareholding in the Energy company by 23.53% to 0.45 million shares with purchase of 86100.0 shares. This fresh investment now brings its stake to 1.50% valued currently at $10.05 million. In addition, Arrowstreet Capital LP raised its holdings by 0.1 million to 0.43 million shares. And Foundation Resource Management, I has lifted its position by 18.94% or 58451.0 shares – to 0.37 million shares.
With over 0.48 million Tsakos Energy Navigation Limited (TNP) shares trading Friday and a closing price of $24.43 on the day, the dollar volume was approximately $11.71 million. The shares have shown a positive half year performance of 42.11% and its price on 01/12/24 gained nearly 4.45%. Currently, there are 29.51M common shares owned by the public and among those 21.76M shares have been available to trade.
The top 3 mutual fund holders in Tsakos Energy Navigation Limited are Global X MSCI Greece ETF, Schwab Fundamental US Small Compa, and Hennessy Cornerstone Growth Fund. Global X MSCI Greece ETF owns 0.17 million shares of the company’s stock, all valued at over $3.67 million. Schwab Fundamental US Small Compa sold 54.0 shares to see its total holdings shrink to 0.15 million shares valued at over $3.38 million and representing 0.50% of the shares outstanding. Hennessy Cornerstone Growth Fund now owns shares totaling to 0.44% of the shares outstanding.
Shares of Tsakos Energy Navigation Limited (NYSE: TNP) opened at $24.24, up $0.85 from a prior closing price of $23.39. However, the script later moved the day high at 24.60, up 4.45%. The company’s stock has a 5-day price change of 1.54% and 14.83% over the past three months. TNP shares are trading 9.95% year to date (YTD), with the 12-month market performance up to 52.47% higher. It has a 12-month low price of $15.22 and touched a high of $24.34 over the same period. TNP has an average intraday trading volume of 293.60K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.80%, 12.89%, and 25.47% respectively.
Institutional ownership of Tsakos Energy Navigation Limited (NYSE: TNP) shares accounts for 17.45% of the company’s 29.51M shares outstanding. Mutual fund holders own 14.51%, while other institutional holders and individual stakeholders account for 3.22% and — respectively.
It has a market capitalization of $737.30M and a beta (3y monthly) value of -0.14. The stock’s trailing 12-month PE ratio is 2.15, while the earnings-per-share (ttm) stands at $11.34. The company has a PEG of 0.22 and a Quick Ratio of 1.49 with the debt-to-equity ratio at 0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.62% over the week and 3.25% over the month.
Analysts forecast that Tsakos Energy Navigation Limited (TNP) will achieve an EPS of $2.35 for the current quarter, $1.91 for the next quarter and $9.32 for 2024. The lowest estimate earnings-per-share for the quarter is $1.82 while analysts give the company a high EPS estimate of $2.88. Comparatively, EPS for the current quarter was $3.17 a year ago. Earnings per share for the fiscal year are expected to increase by 29.12%, and 19.79% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Tsakos Energy Navigation Limited (TNP) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TNP, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on September 06, 2022, with the firm’s price target at $12-$25.
