Nustar Energy L.P. (NS) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS
Nustar Energy L.P. (NYSE:NS) announced its earnings results on Friday. The pipeline company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.33 by $0.28, MarketWatch Earnings reports. Nustar Energy L.P. had a net margin of 8.19% and a return on equity of 10.56%. The company had revenue of $435.49 million for the quarter, compared to analysts’ expectations of $500.83 million. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis.
Shares of Nustar Energy L.P. (NS) traded down 2.74% on Friday, reaching $44.01. The company’s stock had a trading volume of 656,320 shares. Nustar Energy L.P. has a 1-year low of $42.40 and a 1-year high of $55.64. The stock has a market cap of $3.46 billion, a PE ratio of 61.90 and a beta of 1.39. The company’s 50 day moving average is $45.80 and its 200-day moving average is $49.17.
The firm also recently disclosed a dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be paid a $1.095 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. Nustar Energy L.P.’s dividend payout ratio is currently 608.33%.
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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 bought at an average cost of $42.81 per share, for a total transaction of $42,810.00. Following the completion of the acquisition, the director now directly owns 7,818 shares in the company, valued at approximately $334,688.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Grady Rosier purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was purchased at an average price of $46.40 per share, for a total transaction of $232,000.00. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.
Several hedge funds have recently modified their holdings of NS. Infrastructure Capital Advisors LLC raised its stake in shares of Nustar Energy L.P. by 100.1% in the first quarter. Infrastructure Capital Advisors LLC now owns 13,527 shares of the pipeline company’s stock worth $703,000 after buying an additional 6,766 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Nustar Energy L.P. by 1.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 649,147 shares of the pipeline company’s stock worth $33,743,000 after buying an additional 11,040 shares during the period. US Bancorp DE raised its stake in shares of Nustar Energy L.P. by 98.9% in the first quarter. US Bancorp DE now owns 9,250 shares of the pipeline company’s stock worth $481,000 after buying an additional 4,600 shares during the period. Jennison Associates LLC raised its stake in shares of Nustar Energy L.P. by 16.8% in the first quarter. Jennison Associates LLC now owns 263,763 shares of the pipeline company’s stock worth $13,710,000 after buying an additional 37,893 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of Nustar Energy L.P. by 60.7% in the first quarter. Virtu Financial LLC now owns 11,883 shares of the pipeline company’s stock worth $618,000 after buying an additional 4,487 shares during the period. Institutional investors own 46.24% of the company’s stock.
Several equities research analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Nustar Energy L.P. from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 25th. Credit Suisse Group raised Nustar Energy L.P. from an “underperform” rating to a “neutral” rating in a report on Thursday, April 13th. FBR & Co reaffirmed a “hold” rating on shares of Nustar Energy L.P. in a report on Wednesday, April 12th. Wells Fargo & Company downgraded Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, Macquarie assumed coverage on Nustar Energy L.P. in a research note on Friday, April 21st. They issued a “neutral” rating and a $47.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Nustar Energy L.P. currently has a consensus rating of “Hold” and a consensus target price of $50.78.
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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