Front Barnett Associates LLC Continues to Hold Position in Nustar Energy L.P. (NS)
Front Barnett Associates LLC held its stake in shares of Nustar Energy L.P. (NYSE:NS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,803 shares of the pipeline company’s stock at the end of the second quarter. Front Barnett Associates LLC’s holdings in Nustar Energy L.P. were worth $317,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NS. Chicago Partners Investment Group LLC increased its stake in shares of Nustar Energy L.P. by 49.5% in the first quarter. Chicago Partners Investment Group LLC now owns 5,437 shares of the pipeline company’s stock valued at $283,000 after buying an additional 1,800 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Nustar Energy L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 15,832 shares of the pipeline company’s stock valued at $823,000 after buying an additional 4,572 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Nustar Energy L.P. during the first quarter valued at $869,000. SG Americas Securities LLC increased its stake in shares of Nustar Energy L.P. by 2.6% in the first quarter. SG Americas Securities LLC now owns 55,060 shares of the pipeline company’s stock valued at $2,862,000 after buying an additional 1,418 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Nustar Energy L.P. by 22.1% in the first quarter. Stifel Financial Corp now owns 21,124 shares of the pipeline company’s stock valued at $1,097,000 after buying an additional 3,829 shares in the last quarter. Institutional investors and hedge funds own 56.73% of the company’s stock.
Nustar Energy L.P. (NYSE:NS) traded up 1.70% during mid-day trading on Thursday, reaching $40.12. 176,485 shares of the company traded hands. The firm’s 50-day moving average is $43.14 and its 200 day moving average is $47.32. Nustar Energy L.P. has a 52-week low of $37.30 and a 52-week high of $55.64. The stock has a market capitalization of $3.73 billion, a PE ratio of 55.11 and a beta of 1.38.
Nustar Energy L.P. (NYSE:NS) last issued its quarterly earnings results on Friday, July 28th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.28. Nustar Energy L.P. had a net margin of 6.77% and a return on equity of 8.11%. The firm had revenue of $435.49 million for the quarter, compared to analyst estimates of $500.83 million. During the same period last year, the company earned $0.52 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Nustar Energy L.P. will post $1.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, August 7th were paid a dividend of $1.095 per share. This represents a $4.38 annualized dividend and a dividend yield of 11.10%. The ex-dividend date was Thursday, August 3rd. Nustar Energy L.P.’s dividend payout ratio (DPR) is presently 608.33%.
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Several brokerages have recently weighed in on NS. Wells Fargo & Company downgraded shares of Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Nustar Energy L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub downgraded shares of Nustar Energy L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price target on shares of Nustar Energy L.P. in a research report on Friday, June 30th. Finally, UBS AG reiterated a “buy” rating and issued a $53.00 price target (down previously from $56.00) on shares of Nustar Energy L.P. in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $51.00.
In other news, Director Jesse D. Bates purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average price of $42.81 per share, with a total value of $42,810.00. Following the completion of the purchase, the director now directly owns 7,818 shares of the company’s stock, valued at approximately $334,688.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William E. Greehey purchased 6,899 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $38.61 per share, for a total transaction of $266,370.39. Following the purchase, the director now directly owns 3,454,662 shares of the company’s stock, valued at $133,384,499.82. The disclosure for this purchase can be found here. Insiders have bought 102,000 shares of company stock worth $4,113,098 in the last ninety days. 4.10% of the stock is currently owned by insiders.
Nustar Energy L.P. Company Profile
NuStar Energy L.P. is engaged in the transportation of petroleum products and anhydrous ammonia; the terminalling and storage of petroleum products, and the marketing of petroleum products. The Company’s segments include pipeline, storage and fuels marketing. The pipeline segment consists of the transportation of refined petroleum products, crude oil and anhydrous ammonia.
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