Neuberger Berman Group LLC Has $39.97 Million Position in Nustar Energy L.P. (NS)
Neuberger Berman Group LLC reduced its stake in Nustar Energy L.P. (NYSE:NS) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 857,253 shares of the pipeline company’s stock after selling 21,061 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.92% of Nustar Energy L.P. worth $39,974,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Nustar Energy L.P. by 2.6% in the 1st quarter. SG Americas Securities LLC now owns 55,060 shares of the pipeline company’s stock valued at $2,862,000 after buying an additional 1,418 shares during the last quarter. Morgan Stanley increased its position in shares of Nustar Energy L.P. by 10.5% during the 1st quarter. Morgan Stanley now owns 1,922,620 shares of the pipeline company’s stock valued at $99,938,000 after purchasing an additional 182,223 shares during the last quarter. Clinton Group Inc. purchased a new stake in shares of Nustar Energy L.P. during the 1st quarter valued at $869,000. Kayne Anderson Capital Advisors LP increased its position in shares of Nustar Energy L.P. by 72.4% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 958,200 shares of the pipeline company’s stock valued at $44,675,000 after purchasing an additional 402,500 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Nustar Energy L.P. by 49.5% during the 1st quarter. Chicago Partners Investment Group LLC now owns 5,437 shares of the pipeline company’s stock valued at $283,000 after purchasing an additional 1,800 shares during the last quarter. 56.73% of the stock is owned by institutional investors and hedge funds.
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In related news, Director William E. Greehey purchased 50,000 shares of Nustar Energy L.P. stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $41.86 per share, for a total transaction of $2,093,000.00. Following the completion of the transaction, the director now directly owns 3,421,776 shares in the company, valued at approximately $143,235,543.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jesse D. Bates purchased 1,000 shares of Nustar Energy L.P. stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $43.34 per share, with a total value of $43,340.00. Following the transaction, the director now owns 7,818 shares of the company’s stock, valued at $338,832.12. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 102,000 shares of company stock valued at $4,113,098. Company insiders own 4.10% of the company’s stock.
Nustar Energy L.P. (NYSE NS) opened at 40.37 on Monday. The company has a market cap of $3.76 billion, a P/E ratio of 55.45 and a beta of 1.40. The stock’s 50 day moving average price is $42.16 and its 200 day moving average price is $46.81. Nustar Energy L.P. has a 1-year low of $37.30 and a 1-year high of $55.64.
Nustar Energy L.P. (NYSE:NS) last issued its quarterly earnings results on Friday, July 28th. The pipeline company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.28. The company had revenue of $435.49 million during the quarter, compared to analysts’ expectations of $500.83 million. Nustar Energy L.P. had a return on equity of 8.11% and a net margin of 6.77%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. On average, equities analysts anticipate that Nustar Energy L.P. will post $1.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, August 7th were given a $1.095 dividend. This represents a $4.38 dividend on an annualized basis and a yield of 10.85%. The ex-dividend date of this dividend was Thursday, August 3rd. Nustar Energy L.P.’s payout ratio is 608.33%.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Nustar Energy L.P. from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. UBS AG reaffirmed a “buy” rating and set a $53.00 target price (down from $56.00) on shares of Nustar Energy L.P. in a research report on Monday, July 31st. ValuEngine lowered Nustar Energy L.P. from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research lowered Nustar Energy L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Wells Fargo & Company lowered Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Three investment 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’s stock. The company presently has a consensus rating of “Hold” and an average target price of $51.00.
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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