|Bid||0.00 x 800|
|Ask||0.00 x 2900|
|Day's range||19.00 - 19.31|
|52-week range||5.89 - 24.13|
|Beta (5Y monthly)||2.41|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||1.91 (10.05%)|
|Ex-dividend date||28 Feb 2020|
|1y target est||N/A|
First-quarter 2020 distributable cash flow available to limited partners was $122.3 million, significantly higher than $67.4 million in the year-ago period.
Ladies and gentlemen, thank you for standing by, and welcome to the NuStar Energy L.P.'s first 2020 earnings conference call. On the call today are Brad Barron, NuStar Energy's president and CEO; and Tom Shoaf, executive vice president and CFO, along with other members of our management team. Before we get started, we would like to remind you that during the course of this call, NuStar management will make statements about our current views concerning the future performance of NuStar that are forward-looking statements.
NuStar Energy L.P. (NYSE: NS) today reported its first quarter 2020 earnings, which included a net loss of $148 million, resulting from a $225 million non-cash goodwill impairment charge related to its crude oil pipelines reporting unit. The non-cash impairment charge also resulted in unadjusted earnings per unit, or EPU, of ($1.68) for the first quarter, and unadjusted earnings before interest, taxes, depreciation and amortization from continuing operations, or EBITDA, of ($29 million) for the first quarter.
NuStar Energy L.P. (NYSE: NS) announced that its Board of Directors declared a first quarter 2020 common unit distribution of $0.40 per unit, which is a 33 percent reduction from last quarter’s distribution. This reduction is expected to preserve approximately $88 million per year to support NuStar’s balance sheet. The first quarter common unit distribution will be paid on May 15, 2020 to holders of record as of May 11, 2020.
In addition to cost controlling, NuStar Energy (NS) signs a $750-million unsecured term-loan contract with funds managed by Oaktree Capital Management, L.P.
NuStar Energy L.P. (NYSE: NS) today announced that it has entered into a $750 million unsecured term loan agreement with funds managed by Oaktree Capital Management, L.P. ("Oaktree") to strengthen its near-term liquidity. The three-year, 12 percent facility provides that NuStar will draw $500 million at closing and may elect to draw an additional $250 million under the facility during the first year.
NuStar Energy L.P. (NYSE: NS) today announced that, due to the public health impact of the coronavirus pandemic and to support the health and well-being of its unitholders and other stakeholders, the Company’s 2020 annual meeting of unitholders has been changed to a virtual format and will be held via live webcast. Unitholders will not be able to attend the annual meeting in person.
While the reviewed budget will help NuStar Energy (NS) tide over the tough market landscape and keep its operations intact, it will also retain its staff on the current payroll.
NuStar Energy L.P. (NS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
NuStar Logistics, L.P. (the "Company"), a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS) ("NuStar Energy"), announced today that it has launched a conversion of the interest rate period and remarketing of approximately $322 million aggregate principal amount of Parish of St. James, State of Louisiana Revenue Bonds (NuStar Logistics, L.P. Project) Series 2008, Series 2010, Series 2010A, Series 2010B and Series 2011 (the "Bonds") previously issued by the Parish of St. James, State of Louisiana. Following the conversion and remarketing, the interest rate period on the Bonds will be a long-term fixed rate to maturity or a period to be specified later by the Company. The Company will continue to be obligated to service the principal and interest payments associated with the Bonds and following the conversion, the Company’s obligations will be guaranteed by NuStar Energy and NuStar Pipeline Operating Partnership L.P. This conversion and remarketing will not increase the Company’s indebtedness. J.P. Morgan Securities LLC will act as the lead remarketing agent for the reoffering.
NuStar Energy L.P. (NYSE: NS) announced today that Brad Barron, President and Chief Executive Officer; Danny Oliver, Executive Vice President of Business Development & Engineering; Amy Perry, Executive Vice President of Strategic Development; Pam Schmidt, Vice President of Investor Relations, and other members of management will participate in meetings with members of the investment community at the Barclays Select Series: Midstream & Infrastructure Corporate Access Days on Tuesday, March 3, 2020 and Wednesday, March 4, 2020. The materials to be discussed in the meetings will be available on the partnership’s website at 8:45 a.m. Eastern Time, Tuesday, March 3, 2020.
NuStar Energy L.P. (NYSE: NS) today announced that the 2019 tax packages, which include the Schedule K-1’s for Series A, Series B and Series C preferred units and common units, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2019 tax packages on March 2, 2020. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (844) 364-7560 for Series A, Series B and Series C preferred units and (800) 310-6595 for common units, weekdays between 8 a.m. and 5 p.m. CT.