Tsakos Energy Navigation - We're Adding This 7% Yielder To All Our Portfolios

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Given the ongoing shuffle in the preferred stock universe, it has become a tad bit harder to find long-term additions to our portfolio that cover all the criteria necessary. In order to combat this, we took our research to the next level and started looking for things many investors would miss simply because they lack the time to sink their teeth that deep into a company's exchange-traded debt securities.
This article will acquaint you with one of our recent favorites.
The Company As per the company website, Tsakos Energy Navigation Ltd. (NYSE: TNP) is "one of the largest independent transporters of energy in the world, controlling a versatile fleet of modern crude and product tankers with strong ice-class capabilities and liquefied natural gas (LNG) vessels."
Source: Barchart.com - TNP Daily Chart (1 year)
The chart of the common stock does not tell us much of a story. Even if it did, the company's next earnings announcement is scheduled for Sept. 8.
The Preferred Our new portfolio pick is TNP-C -- Tsakos Energy Navigation Ltd., 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares. Before we get to the reason why we chose it, let's quickly take a look at its metrics:
Call Price: $25.00 Liquidation Price: $25.00 Call Date: 10/30/2018 Maturity Date: None Nominal Yield: 8.88% Current Yield (as of Aug.... Read more

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