Catalyst Capital Advisors LLC Raises Stake in Nustar GP Holdings, LLC (NSH)
Catalyst Capital Advisors LLC raised its position in Nustar GP Holdings, LLC (NYSE:NSH) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 425,776 shares of the pipeline company’s stock after buying an additional 35,911 shares during the period. Catalyst Capital Advisors LLC’s holdings in Nustar GP Holdings were worth $10,410,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Trent Capital Management Inc. NC acquired a new stake in Nustar GP Holdings during the second quarter worth approximately $201,000. Stifel Financial Corp acquired a new stake in Nustar GP Holdings during the first quarter worth approximately $206,000. Proficio Capital Partners LLC acquired a new stake in Nustar GP Holdings during the first quarter worth approximately $224,000. Alliancebernstein L.P. acquired a new stake in Nustar GP Holdings during the first quarter worth approximately $233,000. Finally, Janney Montgomery Scott LLC increased its stake in Nustar GP Holdings by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 10,150 shares of the pipeline company’s stock worth $248,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 55.96% of the company’s stock.
Shares of Nustar GP Holdings, LLC (NYSE:NSH) opened at 22.25 on Friday. The stock’s 50 day moving average is $23.55 and its 200-day moving average is $26.55. Nustar GP Holdings, LLC has a 12-month low of $21.30 and a 12-month high of $31.50. The firm has a market cap of $955.66 million, a price-to-earnings ratio of 10.44 and a beta of 1.18.
Nustar GP Holdings (NYSE:NSH) last announced its quarterly earnings results on Friday, July 28th. The pipeline company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.21. The business had revenue of $10.96 million for the quarter, compared to the consensus estimate of $16.22 million. Nustar GP Holdings had a net margin of 176.62% and a return on equity of 25.68%. On average, analysts anticipate that Nustar GP Holdings, LLC will post $1.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, August 7th will be given a $0.545 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.18 dividend on an annualized basis and a dividend yield of 9.80%. Nustar GP Holdings’s dividend payout ratio is 102.83%.
A number of analysts recently commented on NSH shares. TheStreet upgraded shares of Nustar GP Holdings from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Credit Suisse Group set a $28.00 target price on shares of Nustar GP Holdings and gave the stock a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research upgraded shares of Nustar GP Holdings from a “strong sell” rating to a “hold” rating in a report on Saturday, July 29th. Barclays PLC reiterated a “hold” rating on shares of Nustar GP Holdings in a report on Friday, April 14th. Finally, Wells Fargo & Company downgraded shares of Nustar GP Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Nustar GP Holdings has a consensus rating of “Hold” and a consensus target price of $28.33.
In other news, Director William E. Greehey purchased 6,423 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average cost of $22.01 per share, for a total transaction of $141,370.23. Following the transaction, the director now directly owns 8,646,280 shares of the company’s stock, valued at approximately $190,304,622.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Greehey purchased 42,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average price of $21.79 per share, for a total transaction of $926,075.00. Following the completion of the transaction, the director now directly owns 8,646,280 shares in the company, valued at $188,402,441.20. The disclosure for this purchase can be found here. Insiders purchased a total of 73,086 shares of company stock worth $1,597,498 over the last quarter. 21.39% of the stock is currently owned by corporate insiders.
About Nustar GP Holdings
NuStar GP Holdings, LLC holds interests in NuStar Energy L.P. (NuStar Energy). NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. NuStar Energy has terminal and storage facilities in the United States, Canada, Mexico, the Netherlands, including St.
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