NuStar Energy Reports

MLP NuStar Energy (NYSE:NS) has reported earnings from the 4th quarter and full year ended 12/31/2018.

We have only reviewed the ‘headline’ items and earnings, distributable cash flow and coverage ratios look pretty darned good.

Of course NS has 3 high yield fixed to floating rate preferreds issues outstanding as well as a high yield baby bond, which is why we mention this earnings report.

The earnings release can be read here.

4 thoughts on “NuStar Energy Reports”

  1. Thanks Tim… Distributable Cash Flow (DCF) up 37%, that’s a good number. Nustar seems to have regained its footing. Its also nice to see NSS trading above par again.

    1. NSS is now floating at 9.5% for the next interest payment cycle. I was thinking about reducing my position but might just hold with NS doing better.

      1. NSS is due 2043 but had a call starting 1/18. NS agreed to extend that call for one additional year as part of a bank credit agreement last year. They also stated their intention to sell new debt around end of last year. That didn’t happen, perhaps because of a combination of poor market at that time, and their belief improving finances would secure them a better rate. They never stated the new debt would be used to pay off NSS but it’s possible because the reset to 9.5% is pretty costly.

      2. 35spline–I don’t have any now but will look to capture at least the dividend next time around

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