I am looking at NTI against it's competitors, and am a little baffled at the differences. Compared to TSO for example, which has had nice growth the last several years, whereas NTI has gone sideways or down.
Sure, NTI pays out 100% of it's profits, so its to some extent an apples and oranges comparison, still I'd guess that even including the dividend plus for NTI, that 1k invested in TSO five years ago would have given more net gain than NTI. Any comments (bullish or bearish) as to why NTI is comparatively cheap (or at least it appears to be so to me). ?