NS has been the topic of a number of other reports. JPMorgan Chase & Co. reissued an underweight rating and set a $19.00 price target on shares of NuStar Energy in a report on Wednesday, January 10th. Stifel Nicolaus restated a hold rating and set a $23.00 price objective (up from $20.00) on shares of NuStar Energy in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company upgraded shares of NuStar Energy from an underweight rating to an equal weight rating and raised their price objective for the stock from $18.00 to $21.00 in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $19.43.
NuStar Energy Trading Up 1.6 %
NuStar Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Investors of record on Wednesday, February 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.60 dividend on an annualized basis and a yield of 6.99%. NuStar Energy’s dividend payout ratio is currently 307.70%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in NS. Alps Advisors Inc. raised its position in NuStar Energy by 30.0% in the 3rd quarter. Alps Advisors Inc. now owns 19,865,418 shares of the pipeline company’s stock valued at $346,453,000 after purchasing an additional 4,586,344 shares during the last quarter. Blackstone Inc. raised its position in NuStar Energy by 319.6% during the 3rd quarter. Blackstone Inc. now owns 2,316,768 shares of the pipeline company’s stock worth $40,404,000 after buying an additional 1,764,573 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in NuStar Energy during the 3rd quarter worth $19,941,000. Mirae Asset Global Investments Co. Ltd. raised its position in NuStar Energy by 21.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,112,629 shares of the pipeline company’s stock worth $114,184,000 after buying an additional 1,086,994 shares during the last quarter. Finally, Invesco Ltd. raised its position in NuStar Energy by 6.5% during the 1st quarter. Invesco Ltd. now owns 15,954,362 shares of the pipeline company’s stock worth $230,061,000 after buying an additional 975,659 shares during the last quarter. Institutional investors and hedge funds own 56.35% of the company’s stock.
About NuStar Energy
NuStar Energy L.P. engages in the transportation terminalling and storage of petroleum products and renewable fuels, and transportation of anhydrous ammonia in the United States and internationally. It operates through Pipeline, Storage, and Fuels Marketing segments. The Pipeline segment engages in the transportation of refined products, crude oil, and anhydrous ammonia.
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