LONDON, UK / ACCESSWIRE / September 14, 2016 / Active Wall St. announces its post-earnings coverage on Tsakos Energy Navigation Limited (NYSE: TNP) ("Tsakos Energy" or "TEN"). The company reported its financial results for the second quarter fiscal 2016 (Q2 FY16) and first half fiscal 2016 (H1 FY16) on September 09, 2016. The Athens, Greece-based company posted better-than-expected second quarter earnings numbers and declared dividend of $0.08 per common share. Register with us now for your free membership at: http://www.activewallst.com/register/.

Today, AWS is promoting its earnings coverage on TNP; touching on stocks like Teekay LNG Partners (NYSE: TGP) and Nordic American Tankers Limited's (NYSE: NAT). Get our free coverage by signing up to:

http://www.activewallst.com/registration-3/?symbol=TNP

http://www.activewallst.com/registration-3/?symbol=TGP

Earnings Reviewed

For the three months ended on June 30, 2015, Tsakos Energy's revenues, net of voyage expenses, came in at $94.8 million, which was below $118.72 million reported in the prior year's corresponding quarter. Tsakos Energy's revenue fell short of analysts' forecasts, who were expecting revenue of $104.8 million. The company informed Wall Street that the decline in revenue was due to repositioning voyage of its LNG carrier "Neo Energy".

Tsakos Energy's net income for Q2 FY16 came in at $16.41 million, or $0.15 per diluted share, compared to $41.29 million, or $0.45 per diluted share, in Q2 FY15. Net income topped analysts' forecast of $0.14 per diluted share.

During H1 FY16, the company's revenues, net of voyage expenses, fell to $194.47 million from $233.09 million recorded in the comparable year ago period. Tsakos Energy reported net income of $41.84 million, or $0.39 per diluted share, for H1 FY16 compared to $78.55 million, or $0.86 per diluted share, in H1 FY15.

"TEN is in the midst of its largest growth program since inception. With the introduction of the new vessels under long term contracts to major end users, we expect TEN's value to grow significantly," stated Mr. Nikolas P. Tsakos, President and CEO of Tsakos Energy Navigation Limited.

Operational Metrics

During the reported quarter, productivity of the company's core fleet was 98%, net of scheduled dry-dockings and excluding LNG carrier "Neo Energy". In Q2 FY16, the company operated an average of 50.5 vessels in its fleet compared to 50.0 vessels in Q2 FY15.

The company reported positive EBITDA of $51.3 million in Q2 FY16, excluding "Neo Energy", which was undergoing dry-docking in the reported quarter.

Despite an increase in the fleet, the company's operating expenses fell to $71.1 million during H1 FY16 from $73.1 million in the first six months of 2015. The daily operating cost in H1 FY16 decreased to $7,958 from $8,080 in H1 FY15, primarily due to savings achieved by the technical manager.

Financial Stability

The company incurred interest and finance costs of $8.0 million in Q2 FY16, which was in-line to what it had reported in the year ago quarter. Tsakos reported a healthy cash balance of $262.5 million as on June 30, 2016, and still has undrawn bank facilities totaling $410 million, related to construction of new vessels. As on June 30, 2016, net debt to capital stood at 47.8%

Dividend and Share Buybacks

In its quarterly earnings release, the company announced cash dividend payment of $0.08 per share, which will be paid on November 10, 2016 to shareholders of record at the close of business on November 4, 2016. The company informed Wall Street that it has distributed a total $10.355 per share as dividends in its uninterrupted dividend announcement since the company's listing on NYSE in March 2002.

During Q2 FY16, the company repurchased share worth $11.8 million and intends to repurchase shares worth $2.1 million in Q3 FY16.

Peer-Performance

Teekay LNG Partners, in its earnings release on August 04, 2016, had reported voyage revenues of $99.24 million for Q2 FY16 compared to $98.61 million in Q2 FY15. The company's GAAP net income in Q2 FY16 was $43.07 million, lower than GAAP net income of $58.09 million, recorded in the year-ago quarter.

On August 08, 2016, Nordic American Tankers Limited's net voyage revenue came in at $61.65 million for Q2 FY16 compared to $73.46 million in Q2 FY15. The company reported net gain of $12.97 million, or $0.15 per share, in its reported quarter compared to net gains of $29.30 million, or $0.33 per share, during Q2 FY15.

Stock Performance

Tsakos Energy Navigation's shares finished yesterday's trading session at $4.93, dropping 1.79%. A total volume of 530.16 thousand shares exchanged hands. The stock is trading at a PE ratio of 3.24 and a dividend yield of 6.49%.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street