Cushing Asset Management LP Has $17.25 Million Stake in NuStar Energy L.P. (NS)
Cushing Asset Management LP decreased its position in NuStar Energy L.P. (NYSE:NS) by 26.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 576,000 shares of the pipeline company’s stock after selling 203,000 shares during the quarter. Cushing Asset Management LP’s holdings in NuStar Energy were worth $17,251,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NS. The Manufacturers Life Insurance Company grew its holdings in NuStar Energy by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,406 shares of the pipeline company’s stock worth $112,000 after acquiring an additional 163 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in NuStar Energy during the 3rd quarter worth about $217,000. Chicago Partners Investment Group LLC grew its holdings in NuStar Energy by 197.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,361 shares of the pipeline company’s stock worth $218,000 after acquiring an additional 3,561 shares during the last quarter. Kovack Advisors Inc. bought a new stake in NuStar Energy during the 4th quarter worth about $206,000. Finally, Icon Wealth Partners LLC bought a new stake in NuStar Energy during the 4th quarter worth about $212,000. 60.11% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of NuStar Energy from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. ValuEngine lowered shares of NuStar Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Citigroup raised shares of NuStar Energy from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, December 5th. US Capital Advisors downgraded shares of NuStar Energy from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, B. Riley set a $31.00 target price on shares of NuStar Energy and gave the company a “hold” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $33.00.
NuStar Energy (NYSE:NS) last released its earnings results on Thursday, February 8th. The pipeline company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.17). NuStar Energy had a net margin of 8.16% and a return on equity of 7.82%. The business had revenue of $450.50 million for the quarter, compared to analyst estimates of $435.46 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. equities research analysts anticipate that NuStar Energy L.P. will post 1.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Thursday, February 8th were given a dividend of $1.095 per share. The ex-dividend date was Wednesday, February 7th. This represents a $4.38 dividend on an annualized basis and a yield of 20.09%. NuStar Energy’s payout ratio is presently 634.79%.
About NuStar Energy
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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