California Public Employees Retirement System Has $4.47 Million Stake in NuStar Energy L.P. (NS)
California Public Employees Retirement System grew its stake in shares of NuStar Energy L.P. (NYSE:NS) by 4.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 149,380 shares of the pipeline company’s stock after buying an additional 6,455 shares during the period. California Public Employees Retirement System’s holdings in NuStar Energy were worth $4,474,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in NuStar Energy by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,406 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 163 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in NuStar Energy in the 3rd quarter worth approximately $217,000. Chicago Partners Investment Group LLC lifted its holdings in NuStar Energy by 197.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,361 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 3,561 shares in the last quarter. Kovack Advisors Inc. purchased a new position in NuStar Energy in the 4th quarter worth approximately $206,000. Finally, Oxbow Advisors LLC lifted its holdings in NuStar Energy by 28.6% in the 4th quarter. Oxbow Advisors LLC now owns 7,748 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 1,725 shares in the last quarter. 60.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on NS shares. Zacks Investment Research raised NuStar Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 14th. Citigroup raised NuStar Energy from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, December 5th. UBS Group reaffirmed a “buy” rating and issued a $27.00 price objective (down previously from $28.00) on shares of NuStar Energy in a research note on Friday, March 2nd. ValuEngine downgraded NuStar Energy from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, US Capital Advisors downgraded NuStar Energy from an “overweight” rating to a “hold” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.00.
NuStar Energy (NYSE:NS) last released its quarterly earnings data on Thursday, February 8th. The pipeline company reported $0.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.17). NuStar Energy had a return on equity of 7.82% and a net margin of 8.16%. The firm had revenue of $450.50 million during the quarter, compared to the consensus estimate of $435.46 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. sell-side analysts expect that NuStar Energy L.P. will post 1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 8th were given a dividend of $1.095 per share. This represents a $4.38 annualized dividend and a dividend yield of 20.09%. The ex-dividend date was Wednesday, February 7th. NuStar Energy’s dividend payout ratio is currently 625.71%.
NuStar Energy 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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