Covenant Multifamily Offices LLC acquired a new position in shares of NuStar Energy L.P. (NYSE:NS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,159 shares of the pipeline company’s stock, valued at approximately $193,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Intercontinental Wealth Advisors LLC purchased a new position in NuStar Energy during the 4th quarter valued at about $38,000. Sheaff Brock Investment Advisors LLC purchased a new position in NuStar Energy during the 1st quarter valued at about $251,000. Cetera Advisor Networks LLC grew its stake in NuStar Energy by 6.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 9,592 shares of the pipeline company’s stock valued at $201,000 after acquiring an additional 613 shares in the last quarter. Tortoise Index Solutions LLC grew its stake in NuStar Energy by 110.4% during the 4th quarter. Tortoise Index Solutions LLC now owns 32,767 shares of the pipeline company’s stock valued at $686,000 after acquiring an additional 17,190 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in NuStar Energy by 3.5% during the 1st quarter. SG Americas Securities LLC now owns 37,644 shares of the pipeline company’s stock valued at $1,012,000 after acquiring an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.
NS has been the topic of several research analyst reports. ValuEngine raised NuStar Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research raised NuStar Energy from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, February 8th. Finally, JPMorgan Chase & Co. cut NuStar Energy from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.67.
In other news, Director William E. Greehey purchased 68,075 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $28.38 per share, with a total value of $1,931,968.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.90% of the company’s stock.
Shares of NYSE NS traded down $0.20 during trading hours on Wednesday, hitting $27.87. The stock had a trading volume of 321,718 shares, compared to its average volume of 444,953. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 41.60 and a beta of 1.76. NuStar Energy L.P. has a 52 week low of $19.81 and a 52 week high of $29.12. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.55 and a current ratio of 0.70.
NuStar Energy (NYSE:NS) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.18). The firm had revenue of $486.50 million during the quarter, compared to the consensus estimate of $542.91 million. NuStar Energy had a negative net margin of 10.05% and a positive return on equity of 27.72%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. On average, analysts predict that NuStar Energy L.P. will post 1.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Wednesday, May 8th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $2.40 annualized dividend and a dividend yield of 8.61%. NuStar Energy’s payout ratio is 358.21%.
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About NuStar Energy
NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products. The company also engages in the transportation of petroleum products and anhydrous ammonia. It operates through three segments: Pipeline, Storage, and Fuels Marketing. The Pipeline segment transports refined petroleum products, crude oil, and anhydrous ammonia.
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