Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NuStar Energy L.P. (NYSE:NS – Free Report) by 1.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,992,913 shares of the pipeline company’s stock after acquiring an additional 59,804 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NuStar Energy were worth $68,439,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James & Associates increased its holdings in NuStar Energy by 6.2% in the 1st quarter. Raymond James & Associates now owns 48,558 shares of the pipeline company’s stock worth $700,000 after purchasing an additional 2,827 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in NuStar Energy by 6.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,661 shares of the pipeline company’s stock worth $183,000 after purchasing an additional 764 shares during the period. Clearbridge Investments LLC grew its stake in NuStar Energy by 35.9% during the first quarter. Clearbridge Investments LLC now owns 786,680 shares of the pipeline company’s stock worth $11,344,000 after purchasing an additional 208,000 shares during the period. ING Groep NV boosted its holdings in NuStar Energy by 82.8% in the first quarter. ING Groep NV now owns 234,000 shares of the pipeline company’s stock worth $3,374,000 after acquiring an additional 106,000 shares in the last quarter. Finally, UBS Group AG boosted its holdings in NuStar Energy by 20.1% in the first quarter. UBS Group AG now owns 1,426,223 shares of the pipeline company’s stock worth $20,566,000 after acquiring an additional 239,046 shares in the last quarter. 56.35% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on NuStar Energy from $21.00 to $20.00 in a report on Friday, August 11th. Citigroup assumed coverage on NuStar Energy in a research report on Friday, October 6th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, StockNews.com assumed coverage on NuStar Energy in a research report on Thursday, October 5th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, NuStar Energy has an average rating of “Hold” and an average target price of $18.14.
NuStar Energy Price Performance
Shares of NYSE NS opened at $18.07 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 34.75 and a beta of 1.74. NuStar Energy L.P. has a fifty-two week low of $14.30 and a fifty-two week high of $18.41. The company has a debt-to-equity ratio of 11.89, a quick ratio of 0.71 and a current ratio of 0.78. The stock has a fifty day moving average of $17.40 and a 200-day moving average of $16.97.
NuStar Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend was Monday, November 6th. NuStar Energy’s dividend payout ratio is 307.70%.
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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