Invesco Advisers, Inc. recently announced the acquisition of new stake in Nustar Energy L P (NYSE:NS). The institutional investor has increased its shareholding in the Energy company by 0.91% to 20.51 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 16.29% valued currently at $383.1 million. In addition, ALPS Advisors, Inc. raised its holdings by 4.59 million to 19.87 million shares. And Global X Management Co. LLC has lifted its position by 25.86% or 1.03 million shares – to 5.03 million shares.
Currently, there are 125.90M common shares owned by the public and among those 111.63M shares have been available to trade.
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Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 602,064 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 157,517 shares.
The top 3 mutual fund holders in Nustar Energy L P are Alerian MLP ETF, Invesco SteelPath MLP Income Fund, and Global X MLP ETF. Alerian MLP ETF owns 19.75 million shares of the company’s stock, all valued at over $368.87 million. Invesco SteelPath MLP Income Fund sold -0.8 million shares to see its total holdings shrink to 14.67 million shares valued at over $274.0 million and representing 11.65% of the shares outstanding. Global X MLP ETF bought 6160.0 shares to bring its total holdings to over 4.92 million shares at a value of $91.84 million. Global X MLP ETF now owns shares totaling to 3.91% of the shares outstanding.
The company’s stock has a 5-day price change of 13.22% and 22.04% over the past three months. NS shares are trading 14.13% year to date (YTD), with the 12-month market performance up to 27.13% higher. It has a 12-month low price of $14.41 and touched a high of $19.32 over the same period. NS has an average intraday trading volume of 645.94K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.05%, 16.19%, and 24.08% respectively.
Institutional ownership of Nustar Energy L P (NYSE: NS) shares accounts for 61.99% of the company’s 125.90M shares outstanding. Mutual fund holders own 19.00%, while other institutional holders and individual stakeholders account for 46.65% and 15.79% respectively.
It has a market capitalization of $2.68B and a beta (3y monthly) value of 1.68. The stock’s trailing 12-month PE ratio is 40.38, while the earnings-per-share (ttm) stands at $0.53. The company has a PEG of 1.40 and a Quick Ratio of 0.71 with the debt-to-equity ratio at 3.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.25% over the week and 2.09% over the month.
Analysts forecast that Nustar Energy L P (NS) will achieve an EPS of $0.34 for the current quarter, $0.31 for the next quarter and $1.35 for 2024. The lowest estimate earnings-per-share for the quarter is $0.27 while analysts give the company a high EPS estimate of $0.47. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 172.67%, and 28.85% over the next financial year. EPS should grow at an annualized rate of 28.90% over the next five years, compared to -10.88% over the past 5-year period.
Looking at the support for the NS, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on January 10, 2024, with the firm’s price target at $19.
