US Bancorp DE Boosts Stake in Nustar Energy L.P. (NS)
US Bancorp DE increased its position in Nustar Energy L.P. (NYSE:NS) by 52.6% during the second quarter, Holdings Channel reports. The institutional investor owned 14,113 shares of the pipeline company’s stock after buying an additional 4,863 shares during the period. US Bancorp DE’s holdings in Nustar Energy L.P. were worth $657,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its position 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 worth $2,862,000 after buying an additional 1,418 shares in the last quarter. Morgan Stanley raised its position in shares of Nustar Energy L.P. by 10.5% in the first quarter. Morgan Stanley now owns 1,922,620 shares of the pipeline company’s stock worth $99,938,000 after buying an additional 182,223 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Nustar Energy L.P. during the first quarter worth $869,000. Chicago Partners Investment Group LLC raised its position 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 worth $283,000 after buying an additional 1,800 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of Nustar Energy L.P. by 250.7% in the second quarter. Virtu Financial LLC now owns 41,676 shares of the pipeline company’s stock worth $1,943,000 after buying an additional 29,793 shares in the last quarter. Hedge funds and other institutional investors own 54.13% of the company’s stock.
Nustar Energy L.P. (NYSE NS) traded down 2.65% during midday trading on Tuesday, reaching $39.25. 223,077 shares of the company were exchanged. The firm’s 50 day moving average price is $45.03 and its 200-day moving average price is $48.27. The stock has a market capitalization of $3.65 billion, a P/E ratio of 55.20 and a beta of 1.38. Nustar Energy L.P. has a 52 week low of $39.06 and a 52 week high of $55.64.
Nustar Energy L.P. (NYSE:NS) last posted its quarterly earnings results on Friday, July 28th. The pipeline company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.33 by $0.28. Nustar Energy L.P. had a return on equity of 8.11% and a net margin of 6.77%. The company had revenue of $435.49 million for the quarter, compared to analysts’ expectations of $500.83 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Nustar Energy L.P. will post $1.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, August 7th were issued a dividend of $1.095 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $4.38 annualized dividend and a dividend yield of 10.86%. Nustar Energy L.P.’s dividend payout ratio is presently 608.33%.
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NS has been the subject of a number of research reports. BidaskClub lowered shares of Nustar Energy L.P. from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Stifel Nicolaus dropped their target price on shares of Nustar Energy L.P. from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, April 25th. Wells Fargo & Company upgraded shares of Nustar Energy L.P. from a “market perform” rating to an “outperform” rating in a research report on Friday, April 21st. Zacks Investment Research lowered shares of Nustar Energy L.P. from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Finally, Macquarie initiated coverage on shares of Nustar Energy L.P. in a research report on Friday, April 21st. They set a “neutral” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Nustar Energy L.P. currently has a consensus rating of “Hold” and a consensus price target of $51.00.
In related news, Director William Grady Rosier purchased 5,000 shares of Nustar Energy L.P. stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $46.40 per share, for a total transaction of $232,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Greehey purchased 50,000 shares of Nustar Energy L.P. stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $41.86 per share, for a total transaction of $2,093,000.00. Following the acquisition, the director now 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 bought 57,000 shares of company stock worth $2,411,150. Insiders own 4.10% of the company’s stock.
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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