Welcome to our dedicated page for NuStar Energy L.P. news (Ticker: NS), a resource for investors and traders seeking the latest updates and insights on NuStar Energy L.P. stock.
NuStar Energy L.P. (NYSE: NS) is a publicly traded master limited partnership headquartered in San Antonio, Texas. Known as one of the largest independent liquids terminal and pipeline operators in the United States, NuStar's extensive network includes approximately 9,500 miles of pipeline and 63 terminal and storage facilities. These facilities are crucial for the storage and distribution of crude oil, refined products, renewable fuels, ammonia, and specialty liquids.
NuStar's infrastructure boasts a combined system with approximately 49 million barrels of storage capacity, and the company operates not only in the United States but also in Mexico. Over the years, NuStar has established a significant footprint in the energy sector, ensuring the smooth transit and storage of essential energy commodities.
As of the latest developments, NuStar is in the process of merging with Sunoco LP (NYSE: SUN). The definitive agreement, valued at approximately $7.3 billion including assumed debt, outlines that each NuStar common unitholder will receive 0.400 Sunoco common units for every NuStar common unit. The merger has been unanimously approved by the boards of both companies and is anticipated to enhance their strategic position in the market. This transaction, which has already secured approval from NuStar unitholders as of May 1, 2024, is expected to close by early May 2024 pending customary regulatory approvals.
NuStar provides critical services to a wide array of customers, ensuring the efficient and reliable movement of energy products. Their operations support both domestic and international markets, underscoring the company's importance in the global energy supply chain. For more detailed and up-to-date information, you can visit their official website and sustainability page.
NuStar Energy L.P. (NYSE: NS) announced a third quarter 2021 common unit distribution of $0.40 per unit, payable on November 12, 2021, to record holders as of November 8, 2021. Additionally, preferred unit distributions were declared: $0.53125 for Series A, $0.47657 for Series B, and $0.56250 for Series C, to be paid on December 15, 2021. The company will hold a conference call to discuss Q3 results on November 4, 2021, at 10:00 a.m. CT.
NuStar Energy L.P. has successfully closed the sale of its Eastern U.S. Terminals to Sunoco LP for $250 million. This divestiture allows NuStar to strengthen its debt metrics and maintain financial flexibility by utilizing proceeds to fund strategic capital expenditures expected to range from $140 million to $160 million in 2021. The Eastern U.S. Terminals consist of eight locations, which are no longer aligned with NuStar's core assets. The sale is anticipated to enhance operational opportunities for the facilities under Sunoco's management.
Sunoco LP (NYSE: SUN) has successfully completed the acquisition of eight refined products terminals from NuStar Energy, L.P. for approximately $250 million. This follows an earlier acquisition of a terminal from Cato Incorporated. The transactions were funded through cash on hand and available amounts under SUN's revolving credit facility, marking a significant expansion of its midstream business. These acquisitions are expected to enhance SUN's distribution capabilities across over 10,000 convenience stores and independent dealers nationwide.
NuStar Energy L.P. (NYSE: NS) will host a conference call on November 4, 2021, at 10:00 a.m. Central Time to discuss its third quarter earnings results. The call can be accessed at toll-free 844/889-7787 for U.S. callers and 661/378-9931 for international participants. A playback will be available afterward. NuStar, based in San Antonio, Texas, operates approximately 10,000 miles of pipeline and 73 terminal facilities, storing and distributing liquids nationwide and in Canada and Mexico.
The board of NuStar Energy L.P. has announced the retirement of James "Fully" Clingman, Jr. effective October 27, 2021. Clingman has been a significant figure in the company for 15 years, recognized for his leadership and commitment to corporate values. The board also welcomed Ed Grier and Martin Salinas, Jr. as new members, effective August 31, 2021, bringing extensive experience in business and finance. The changes aim to sustain the company's culture and achieve its strategic objectives.
NuStar Energy L.P. (NYSE: NS) will participate in virtual meetings at the 2021 Citi One-on-One Midstream / Energy Infrastructure Conference on August 18-19, 2021. Key executives, including Brad Barron and Tom Shoaf, will represent the company. The presentation materials will be available on the company's website at 10:30 a.m. ET on August 18, 2021. NuStar operates approximately 10,000 miles of pipeline and 73 terminal facilities, with about 72 million barrels of storage capacity across the U.S., Canada, and Mexico.
NuStar Energy L.P. (NYSE: NS) reported a net income of $63 million or $0.25 per unit for Q2 2021, a significant improvement from a net income of $30 million or a $0.06 loss per unit in Q2 2020. EBITDA increased by 17% to $189 million, while distributable cash flow rose by 56% to $97 million. Refined product throughputs surged 34% year-over-year, and crude pipeline throughputs increased 17%. The company announced the sale of nine terminals for $250 million to enhance its balance sheet and focus on core assets, with plans to reduce debt-to-EBITDA ratio significantly.
NuStar Energy L.P. (NYSE: NS) has agreed to sell its Northeast and Florida storage terminals to Sunoco LP for $250 million. The transaction includes eight terminal locations and is expected to close by early Q4 2021, pending customary closing conditions. According to CEO Brad Barron, while the terminals are solid assets, they no longer align with NuStar's core operations, which is crucial for long-term success. The proceeds from the sale will be used to enhance NuStar’s debt metrics, supporting self-funding from internally generated cash flows.
NuStar Energy L.P. (NYSE: NS) has declared a second quarter 2021 common unit distribution of $0.40 per unit, payable on August 12, 2021 to holders of record as of August 6, 2021. Additionally, second quarter preferred unit distributions were announced: Series A at $0.53125, Series B at $0.47657, and Series C at $0.56250, payable on September 15, 2021 to holders of record as of September 1, 2021. The management will discuss financial results in a conference call on August 5, 2021.
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