First Eagle Investment Management LLC continued to hold its stake in Nustar Energy L.P. (NYSE:NS) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 291,400 shares of the pipeline company’s stock at the end of the second quarter. First Eagle Investment Management LLC owned about 0.31% of Nustar Energy L.P. worth $13,588,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. increased its stake in Nustar Energy L.P. by 213,865.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 4,311,408 shares of the pipeline company’s stock worth $201,041,000 after buying an additional 4,309,393 shares during the period. Alps Advisors Inc. increased its stake in shares of Nustar Energy L.P. by 25.9% in the second quarter. Alps Advisors Inc. now owns 5,772,723 shares of the pipeline company’s stock valued at $269,182,000 after buying an additional 1,188,735 shares during the last quarter. Eagle Global Advisors LLC increased its stake in shares of Nustar Energy L.P. by 15,930.4% in the second quarter. Eagle Global Advisors LLC now owns 1,043,580 shares of the pipeline company’s stock valued at $48,662,000 after buying an additional 1,037,070 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Nustar Energy L.P. by 281.7% in the second quarter. Bank of Montreal Can now owns 1,019,173 shares of the pipeline company’s stock valued at $47,524,000 after buying an additional 752,185 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Nustar Energy L.P. by 29.1% in the first quarter. Clearbridge Investments LLC now owns 2,370,465 shares of the pipeline company’s stock valued at $123,217,000 after buying an additional 534,570 shares during the last quarter. 54.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nustar Energy L.P. (NYSE NS) opened at 38.22 on Monday. The stock has a market capitalization of $3.56 billion, a P/E ratio of 52.50 and a beta of 1.38. The firm has a 50 day moving average of $44.25 and a 200-day moving average of $47.90. Nustar Energy L.P. has a 12 month low of $37.85 and a 12 month 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 earnings per share (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 the consensus estimate of $500.83 million. Nustar Energy L.P. had a return on equity of 8.11% and a net margin of 6.77%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Analysts forecast that Nustar Energy L.P. will post $1.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, August 7th were paid a $1.095 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $4.38 dividend on an annualized basis and a dividend yield of 11.46%. Nustar Energy L.P.’s dividend payout ratio (DPR) is presently 608.33%.
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Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Nustar Energy L.P. from a “strong sell” rating to a “sell” rating in a research note 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 note on Monday, July 31st. Zacks Investment Research downgraded shares of Nustar Energy L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Wells Fargo & Company downgraded shares of Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $46.00 target price on shares of Nustar Energy L.P. in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.00.
In related news, Director William E. Greehey purchased 50,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director now owns 3,421,776 shares in the company, valued at $143,235,543.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jesse D. Bates purchased 1,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director now owns 7,818 shares of the company’s stock, valued at approximately $338,832.12. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 52,000 shares of company stock valued at $2,179,150. Insiders own 4.10% of the company’s stock.
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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