NuStar Energy L.P. (NYSE:NS – Get Rating) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 3,980,000 shares, a decrease of 21.5% from the July 31st total of 5,070,000 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average trading volume of 565,100 shares, the days-to-cover ratio is presently 7.0 days.
Insider Transactions at NuStar Energy
In other news, Director William E. Greehey purchased 110,299 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was bought at an average price of $15.81 per share, for a total transaction of $1,743,827.19. Following the purchase, the director now owns 10,014,333 shares of the company’s stock, valued at $158,326,604.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On NuStar Energy
A number of large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of NuStar Energy by 6.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,661 shares of the pipeline company’s stock valued at $183,000 after buying an additional 764 shares in the last quarter. Arrow Investment Advisors LLC raised its holdings in shares of NuStar Energy by 4.9% during the 4th quarter. Arrow Investment Advisors LLC now owns 16,754 shares of the pipeline company’s stock valued at $266,000 after buying an additional 776 shares in the last quarter. Van ECK Associates Corp raised its holdings 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 buying an additional 825 shares in the last quarter. LPL Financial LLC raised its holdings in shares of NuStar Energy by 1.0% during the 2nd quarter. LPL Financial LLC now owns 126,881 shares of the pipeline company’s stock valued at $1,776,000 after buying an additional 1,220 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 buying an additional 1,298 shares in the last quarter. 57.65% of the stock is owned by hedge funds and other institutional investors.
NuStar Energy Stock Performance
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NYSE:NS opened at $16.30 on Friday. The business’s 50-day moving average price is $14.76 and its two-hundred day moving average price is $15.23. NuStar Energy has a twelve month low of $12.84 and a twelve month high of $18.05. The stock has a market cap of $1.80 billion, a P/E ratio of -12.44 and a beta of 2.04. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 16.66.
NuStar Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 8th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.82%. NuStar Energy’s dividend payout ratio is -122.14%.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. StockNews.com downgraded NuStar Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Wells Fargo & Company upgraded NuStar Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $18.00 in a research note on Tuesday, May 31st.
About NuStar Energy
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.
Further Reading
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