Zimmer Partners LP raised its position in NuStar Energy L.P. (NYSE:NS) by 87.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 734,997 shares of the pipeline company’s stock after purchasing an additional 342,689 shares during the quarter. Zimmer Partners LP owned about 0.67% of NuStar Energy worth $12,561,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Blackstone Group Inc. boosted its holdings in shares of NuStar Energy by 46.7% in the first quarter. Blackstone Group Inc. now owns 5,334,749 shares of the pipeline company’s stock valued at $91,171,000 after acquiring an additional 1,698,844 shares in the last quarter. Brookfield Asset Management Inc. boosted its holdings in shares of NuStar Energy by 200.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,231,058 shares of the pipeline company’s stock valued at $32,150,000 after acquiring an additional 1,488,824 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of NuStar Energy by 6.6% in the first quarter. Alps Advisors Inc. now owns 13,265,805 shares of the pipeline company’s stock valued at $226,713,000 after acquiring an additional 817,689 shares in the last quarter. Covenant Multifamily Offices LLC bought a new position in shares of NuStar Energy in the first quarter valued at approximately $4,121,000. Finally, Allianz Asset Management GmbH boosted its holdings in NuStar Energy by 41.1% during the first quarter. Allianz Asset Management GmbH now owns 510,600 shares of the pipeline company’s stock worth $8,726,000 after buying an additional 148,700 shares in the last quarter. Institutional investors own 58.66% of the company’s stock.
NuStar Energy stock traded down $0.23 during midday trading on Thursday, reaching $16.72. The stock had a trading volume of 2,296 shares, compared to its average volume of 390,712. The firm has a fifty day moving average of $18.38. NuStar Energy L.P. has a twelve month low of $9.47 and a twelve month high of $20.73. The company has a debt-to-equity ratio of 7.78, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -13.04 and a beta of 2.61.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, May 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date was Friday, May 7th. NuStar Energy’s dividend payout ratio is 280.70%.
Separately, Wells Fargo & Company raised their target price on shares of NuStar Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. NuStar Energy presently has an average rating of “Hold” and an average price target of $18.38.
NuStar Energy Profile
NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products in the United States and internationally. The company also engages in the transportation of petroleum products and anhydrous ammonia. It operates through three segments: Pipeline, Storage, and Fuels Marketing.
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