JPMorgan Chase & Co. Grows Stock Holdings in NuStar Energy L.P. (NYSE:NS)

JPMorgan Chase & Co. boosted its holdings in NuStar Energy L.P. (NYSE:NSGet Rating) by 50.7% in the first quarter, Holdings Channel reports. The institutional investor owned 1,453,728 shares of the pipeline company’s stock after acquiring an additional 489,108 shares during the quarter. JPMorgan Chase & Co.’s holdings in NuStar Energy were worth $20,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in shares of NuStar Energy by 69.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,165 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 1,298 shares in the last quarter. Van ECK Associates Corp grew its position in shares of NuStar Energy by 12.2% during the 1st quarter. Van ECK Associates Corp now owns 7,572 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 825 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of NuStar Energy by 46.6% during the 1st quarter. Pacer Advisors Inc. now owns 9,456 shares of the pipeline company’s stock valued at $136,000 after purchasing an additional 3,005 shares in the last quarter. Advisors Capital Management LLC purchased a new position in shares of NuStar Energy during the 1st quarter valued at $146,000. Finally, B. Riley Wealth Management Inc. purchased a new position in shares of NuStar Energy during the 1st quarter valued at $149,000. 57.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NS shares. Wells Fargo & Company upgraded shares of NuStar Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $18.00 in a research report on Tuesday, May 31st. StockNews.com downgraded shares of NuStar Energy from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th.

NuStar Energy Stock Performance

NYSE NS opened at $15.95 on Monday. NuStar Energy L.P. has a 52-week low of $12.84 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 16.66, a quick ratio of 0.99 and a current ratio of 1.08. The company has a market capitalization of $1.76 billion, a P/E ratio of -12.18 and a beta of 2.04. The company has a fifty day moving average of $14.96 and a 200-day moving average of $15.22.

NuStar Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend was Friday, August 5th. NuStar Energy’s dividend payout ratio is presently -122.14%.

Insiders Place Their Bets

In other news, Director William E. Greehey acquired 110,299 shares of the stock in a transaction dated Thursday, August 18th. The stock was purchased at an average cost of $15.81 per share, with a total value of $1,743,827.19. Following the completion of the purchase, the director now owns 10,014,333 shares in the company, valued at approximately $158,326,604.73. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently owned by insiders.

About NuStar Energy

(Get Rating)

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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