Renaissance Technologies LLC Sells 170,716 Shares of Nustar Energy L.P. (NS)
Renaissance Technologies LLC cut its position in shares of Nustar Energy L.P. (NYSE:NS) by 69.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,384 shares of the pipeline company’s stock after selling 170,716 shares during the period. Renaissance Technologies LLC’s holdings in Nustar Energy L.P. were worth $3,815,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley raised its position in 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. Global X Management Co. LLC increased its stake in shares of Nustar Energy L.P. by 16.2% in the first quarter. Global X Management Co. LLC now owns 363,180 shares of the pipeline company’s stock valued at $18,878,000 after buying an additional 50,626 shares during the last quarter. Jennison Associates LLC increased 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 valued at $13,710,000 after buying an additional 37,893 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Nustar Energy L.P. by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 1,369,575 shares of the pipeline company’s stock valued at $71,190,000 after buying an additional 30,447 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Nustar Energy L.P. by 313.3% in the first quarter. Janney Montgomery Scott LLC now owns 31,689 shares of the pipeline company’s stock valued at $1,647,000 after buying an additional 24,021 shares during the last quarter. Institutional investors own 52.47% of the company’s stock.
Nustar Energy L.P. (NYSE:NS) traded up 0.36% during mid-day trading on Wednesday, reaching $41.30. 104,050 shares of the company were exchanged. Nustar Energy L.P. has a 12 month low of $41.12 and a 12 month high of $55.64. The stock has a market capitalization of $3.84 billion, a P/E ratio of 58.09 and a beta of 1.38. The company’s 50 day moving average price is $45.46 and its 200-day moving average price is $48.89.
Nustar Energy L.P. (NYSE:NS) last announced its earnings results on Friday, July 28th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.28. The company had revenue of $435.49 million during the quarter, compared to the consensus estimate of $500.83 million. Nustar Energy L.P. had a net margin of 6.77% and a return on equity of 8.84%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities analysts expect that Nustar Energy L.P. will post $1.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be given a $1.095 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $4.38 dividend on an annualized basis and a yield of 10.64%. Nustar Energy L.P.’s dividend payout ratio is presently 608.33%.
Several analysts have recently weighed in on NS shares. Wells Fargo & Company raised shares of Nustar Energy L.P. from a “market perform” rating to an “outperform” rating in a report on Friday, April 21st. BidaskClub downgraded shares of Nustar Energy L.P. from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Stifel Nicolaus lowered their target price on shares of Nustar Energy L.P. from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Nustar Energy L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. Finally, Macquarie started coverage on shares of Nustar Energy L.P. in a report on Friday, April 21st. They issued a “neutral” rating and a $47.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Nustar Energy L.P. has an average rating of “Hold” and a consensus price target of $51.00.
In related news, Director William Grady Rosier bought 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jesse D. Bates bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $42.81 per share, with a total value of $42,810.00. Following the transaction, the director now directly owns 7,818 shares in the company, valued at $334,688.58. The disclosure for this purchase can be found here. Insiders purchased a total of 7,000 shares of company stock valued at $318,150 in the last quarter. 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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