Traders Purchase Large Volume of Put Options on Nustar GP (NSH)

Nustar GP Holdings, LLC (NYSE:NSH) was the target of some unusual options trading activity on Thursday. Investors bought 818 put options on the stock. This represents an increase of 611% compared to the average daily volume of 115 put options.

Several brokerages have commented on NSH. Zacks Investment Research upgraded shares of Nustar GP from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Mizuho restated a “hold” rating and set a $21.00 price objective on shares of Nustar GP in a research note on Friday, November 10th. Barclays decreased their price objective on shares of Nustar GP from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. UBS decreased their price objective on shares of Nustar GP from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Finally, Citigroup decreased their price objective on shares of Nustar GP from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.50.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in Nustar GP by 1.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,150 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 100 shares in the last quarter. Alps Advisors Inc. increased its holdings in Nustar GP by 2.7% in the 2nd quarter. Alps Advisors Inc. now owns 13,451 shares of the pipeline company’s stock worth $329,000 after acquiring an additional 359 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Nustar GP by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 8,841 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 495 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Nustar GP by 11.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 9,345 shares of the pipeline company’s stock worth $214,000 after acquiring an additional 925 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Nustar GP by 1.5% in the 2nd quarter. Citigroup Inc. now owns 79,554 shares of the pipeline company’s stock worth $1,945,000 after acquiring an additional 1,142 shares in the last quarter. 55.64% of the stock is owned by institutional investors.

Nustar GP (NYSE NSH) opened at $14.65 on Tuesday. The firm has a market cap of $637.83, a P/E ratio of 11.00 and a beta of 1.03. Nustar GP has a 1-year low of $13.65 and a 1-year high of $31.50.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 9th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 14.88%. The ex-dividend date of this dividend was Wednesday, November 8th. Nustar GP’s payout ratio is presently 110.10%.

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About Nustar GP

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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