NuStar GP Holdings Q1 Net Income Rises - Quick Facts

(RTTNews) - NuStar GP Holdings, LLC (NSH) Wednesday said first-quarter net income increased to $13.65 million from $11.08 million. Net income per unit rose to $0.32 from $0.26.

On average, 6 analysts polled by Thomson Reuters expected earnings of $0.34 per share. Analysts estimates typically exclude special items.

Distributable cash flow available to unitholders was $23.2 million or $0.54 per unit, compared to $22.9 million or $0.54 per unit for the first quarter of 2013.

Equity in earnings of NuStar Energy improved to $14.39 million from $12.14 million.

The board of directors has declared a distribution of $0.545 per unit. The distribution will be paid on May 15 to holders of record as of May 7.

Brad Barron, President and Chief Executive Officer, said, ''NuStar GP Holdings, LLC's future results should benefit from actions taken by NuStar Energy L.P. during the first quarter to improve its profitability."