Zimmer Partners LP Purchases 342,689 Shares of NuStar Energy L.P. (NYSE:NS)

Zimmer Partners LP boosted its position in shares of NuStar Energy L.P. (NYSE:NS) by 87.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 734,997 shares of the pipeline company’s stock after purchasing an additional 342,689 shares during the period. Zimmer Partners LP’s holdings in NuStar Energy were worth $12,561,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in NuStar Energy by 42.5% during the 1st quarter. First Horizon Advisors Inc. now owns 1,881 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 561 shares during the last quarter. IFP Advisors Inc raised its stake in shares of NuStar Energy by 112.3% in the first quarter. IFP Advisors Inc now owns 3,401 shares of the pipeline company’s stock worth $59,000 after acquiring an additional 1,799 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of NuStar Energy by 15.9% in the first quarter. Pacer Advisors Inc. now owns 5,453 shares of the pipeline company’s stock worth $93,000 after acquiring an additional 750 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of NuStar Energy by 33.1% in the first quarter. Cullen Frost Bankers Inc. now owns 8,049 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advisors Capital Management LLC bought a new position in shares of NuStar Energy in the first quarter worth about $177,000. 58.66% of the stock is owned by hedge funds and other institutional investors.

Separately, Wells Fargo & Company boosted their target price on shares of NuStar Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.38.

Shares of NS traded down $0.23 on Thursday, reaching $16.72. 2,296 shares of the company’s stock were exchanged, compared to its average volume of 390,712. The company has a debt-to-equity ratio of 7.78, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a market cap of $1.83 billion, a PE ratio of -13.04 and a beta of 2.61. The stock’s 50 day simple moving average is $18.38. NuStar Energy L.P. has a 12 month low of $9.47 and a 12 month high of $20.73.

NuStar Energy (NYSE:NS) last posted its quarterly earnings results on Tuesday, May 4th. The pipeline company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.23). The business had revenue of $361.60 million for the quarter, compared to the consensus estimate of $374.71 million. NuStar Energy had a positive return on equity of 31.00% and a negative net margin of 0.63%. The company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, equities analysts forecast that NuStar Energy L.P. will post 1.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Monday, May 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date of this dividend was Friday, May 7th. NuStar Energy’s dividend payout ratio (DPR) is 280.70%.

NuStar Energy Company 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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Institutional Ownership by Quarter for NuStar Energy (NYSE:NS)

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