Overview: Tsakos Energy Navigation


Jul. 31 2014, Published 8:27 a.m. ET

Tsakos Energy Navigation

Incorporated in Bermuda, Tsakos Energy Navigation Ltd. (or TNP) is managed out of Athens, Greece. It’s listed on the New York Stock Exchange (or NYSE) under the symbol TNP and in the Bermuda Stock Exchange (BSX) under the symbol TEN. In addition, Tsakos Energy Navigation Ltd. 8% Series B Cumulative Redeemable Perpetual Preferred shares trade on NYSE under the symbol TNPPRB.

Tsakos Energy Navigation is a leading provider of international seaborne petroleum product and crude oil transportation services. It operates petroleum product tankers and crude oil carriers’ fleet providing worldwide marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters.

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Trading at a market cap of $601.3 million, the company records a dividend yield of 2.8% and a beta of 1.24. In the past year, the company recorded an increase of 36.7% compared to 8.7% recorded by the Dow Jones. Meanwhile, its peers—DHT Holdings Inc. (DHT), Teekay Tankers Ltd. (TNK), Navios Maritime Acquisition (NNA), and Nordic American Tankers (NAT) recorded gains of 43.4%, 36.7%, 10.6%, and 14.8%, respectively. The Guggenheim Shipping ETF (SEA) has recorded gains of 21.6% in the past year.

Through the TNP overview, we’re trying to give our readers insight into the company’s positives, differentiating factors, and strategies that would support the positive fundamentals and help in investment strategies.

TNP is highlighted with a number of attractive investment features like a modern, diversified, and environmentally friendly fleet, a healthy dividend payment, organic growth through foray into new sectors, and well balanced financials.

We’ll discuss the company’s fleet structure and investments in more detail in the following sections in this series.



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