LPL Financial LLC grew its stake in shares of NuStar Energy L.P. (NYSE:NS – Free Report) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,042 shares of the pipeline company’s stock after buying an additional 11,478 shares during the period. LPL Financial LLC owned approximately 0.12% of NuStar Energy worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of NuStar Energy during the second quarter worth about $194,000. Clearbridge Investments LLC raised its position in shares of NuStar Energy by 16.0% during the first quarter. Clearbridge Investments LLC now owns 1,374,680 shares of the pipeline company’s stock worth $21,500,000 after purchasing an additional 190,000 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of NuStar Energy by 6.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 180,236 shares of the pipeline company’s stock worth $3,089,000 after purchasing an additional 10,339 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of NuStar Energy during the second quarter worth about $87,000. Finally, Maryland State Retirement & Pension System raised its position in shares of NuStar Energy by 3.7% during the second quarter. Maryland State Retirement & Pension System now owns 104,251 shares of the pipeline company’s stock worth $1,787,000 after purchasing an additional 3,680 shares during the period. Institutional investors own 56.35% of the company’s stock.
Wall Street Analysts Forecast Growth
NS has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on NuStar Energy from $21.00 to $20.00 in a research report on Friday, August 11th. Barclays lifted their target price on NuStar Energy from $18.00 to $19.00 in a research report on Tuesday, July 18th. StockNews.com initiated coverage on NuStar Energy in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Citigroup initiated coverage on NuStar Energy in a research report on Friday, October 6th. They issued a “neutral” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NuStar Energy has a consensus rating of “Hold” and an average target price of $18.14.
NuStar Energy Stock Up 0.3 %
NYSE:NS opened at $16.93 on Friday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 21.43 and a beta of 1.74. NuStar Energy L.P. has a twelve month low of $14.30 and a twelve month high of $18.41. The stock’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $16.90. The company has a quick ratio of 0.86, a current ratio of 0.78 and a debt-to-equity ratio of 11.89.
NuStar Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 9.45%. The ex-dividend date of this dividend is Monday, November 6th. NuStar Energy’s dividend payout ratio (DPR) is 202.53%.
About NuStar Energy
NuStar Energy L.P. engages in the transportation terminalling and storage of petroleum products and renewable fuels, and transportation of anhydrous ammonia in the United States and internationally. It operates through Pipeline, Storage, and Fuels Marketing segments. The Pipeline segment engages in the transportation of refined products, crude oil, and anhydrous ammonia.
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