Nustar Energy L.P. (NS) Hits New 52-Week Low at $32.55
Nustar Energy L.P. (NYSE:NS)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $32.55 and last traded at $0.00, with a volume of shares trading hands.
A number of equities research analysts recently weighed in on NS shares. UBS AG lowered their price target on shares of Nustar Energy L.P. from $50.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 price target on shares of Nustar Energy L.P. in a report on Thursday, October 12th. Citigroup Inc. lowered their price target on shares of Nustar Energy L.P. from $51.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. Mizuho reaffirmed a “hold” rating and set a $47.00 price target on shares of Nustar Energy L.P. in a report on Friday, October 20th. Finally, Wells Fargo & Company lowered shares of Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.33.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Thursday, November 9th will be given a dividend of $1.095 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $4.38 annualized dividend and a yield of Infinity. Nustar Energy L.P.’s dividend payout ratio (DPR) is 608.33%.
In other news, Director William E. Greehey purchased 6,899 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $38.61 per share, for a total transaction of $266,370.39. Following the transaction, the director now directly owns 3,454,662 shares of the company’s stock, valued at approximately $133,384,499.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Greehey purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $41.86 per share, for a total transaction of $2,093,000.00. Following the completion of the transaction, the director now directly owns 3,421,776 shares in the company, valued at $143,235,543.36. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 100,000 shares of company stock worth $4,026,948. 4.10% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its position in shares of Nustar Energy L.P. by 25.9% in the 2nd quarter. Alps Advisors Inc. now owns 5,772,723 shares of the pipeline company’s stock valued at $269,182,000 after acquiring an additional 1,188,735 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Nustar Energy L.P. by 213,865.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,311,408 shares of the pipeline company’s stock valued at $201,041,000 after acquiring an additional 4,309,393 shares during the period. Center Coast Capital Advisors LP raised its position in shares of Nustar Energy L.P. by 0.3% in the 2nd quarter. Center Coast Capital Advisors LP now owns 4,147,643 shares of the pipeline company’s stock valued at $193,405,000 after acquiring an additional 13,566 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Nustar Energy L.P. by 15.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,734,332 shares of the pipeline company’s stock valued at $174,132,000 after acquiring an additional 492,279 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Nustar Energy L.P. by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,888 shares of the pipeline company’s stock worth $70,545,000 after purchasing an additional 143,313 shares in the last quarter. Institutional investors and hedge funds own 56.87% of the company’s stock.
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About Nustar Energy L.P.
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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