NuStar Energy L.P. (NS) Stake Lowered by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in NuStar Energy L.P. (NYSE:NS) by 12.6% during the first quarter, HoldingsChannel.com reports. The firm owned 12,412 shares of the pipeline company’s stock after selling 1,787 shares during the period. Cullen Frost Bankers Inc.’s holdings in NuStar Energy were worth $334,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in NuStar Energy by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,200 shares of the pipeline company’s stock valued at $731,000 after purchasing an additional 400 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new stake in NuStar Energy in the 1st quarter valued at about $193,000. Sheaff Brock Investment Advisors LLC acquired a new stake in NuStar Energy in the 1st quarter valued at about $251,000. SG Americas Securities LLC lifted its stake in NuStar Energy by 3.5% in the 1st quarter. SG Americas Securities LLC now owns 37,644 shares of the pipeline company’s stock valued at $1,012,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its stake in NuStar Energy by 6.8% in the 4th quarter. Cetera Advisor Networks LLC now owns 9,592 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 61.30% of the company’s stock.

In other news, SVP Michael Truby sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $26.95, for a total transaction of $161,700.00. Following the transaction, the senior vice president now directly owns 45,043 shares of the company’s stock, valued at $1,213,908.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas R. Shoaf sold 7,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total transaction of $186,666.00. Following the transaction, the chief financial officer now directly owns 83,389 shares in the company, valued at $2,209,808.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,424 shares of company stock worth $514,283. Insiders own 8.90% of the company’s stock.

NS has been the subject of several recent analyst reports. ValuEngine upgraded shares of NuStar Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America started coverage on shares of NuStar Energy in a report on Friday, January 11th. They issued a “neutral” rating and a $27.00 price target on the stock. US Capital Advisors reissued a “hold” rating on shares of NuStar Energy in a report on Wednesday, January 16th. UBS Group cut shares of NuStar Energy from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. Finally, JPMorgan Chase & Co. cut shares of NuStar Energy from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $27.17.

NuStar Energy stock opened at $26.98 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 40.27 and a beta of 1.76. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.38. NuStar Energy L.P. has a twelve month low of $19.81 and a twelve month high of $29.12.

NuStar Energy (NYSE:NS) last released its quarterly earnings results on Thursday, January 31st. The pipeline company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). The company had revenue of $509.31 million during the quarter, compared to the consensus estimate of $463.69 million. NuStar Energy had a net margin of 10.49% and a return on equity of 34.39%. As a group, equities analysts forecast that NuStar Energy L.P. will post 1.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Wednesday, May 8th will be issued a $0.60 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $2.40 annualized dividend and a yield of 8.90%. NuStar Energy’s dividend payout ratio is currently 358.21%.

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NuStar Energy Profile

NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products. The company also engages in the transportation of petroleum products and anhydrous ammonia. It operates through three segments: Pipeline, Storage, and Fuels Marketing. The Pipeline segment transports refined petroleum products, crude oil, and anhydrous ammonia.

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

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