NuStar Profit Tops Estimates; Stock Up 6%

(RTTNews) - NuStar Profit Tops Estimates; Stock Up 6%

NuStar GP Holdings LLC (NSH) on Wednesday reported first-quarter net earnings of $26.8 million or $0.62 per unit compared with $13.6 million or $0.32 per unit last year.

Excluding items, adjusted earnings for the quarter were $0.43 per unit.

Analysts polled by Thomson Reuters estimated earnings of $0.41 per unit for the quarter. Analysts' estimates typically exclude special items.

The company' results benefitted from NuStar Energy L.P.'s record, and higher than anticipated, first quarter Eagle Ford throughput volumes, said CEO Brad Barron.

Also, NuStar declared a quarterly distribution of $0.545 per unit.

NuStar GP Holdings engages in the transportation, storage and marketing of petroleum products.

NuStar shares were gaining $37.07, up $2.22 or 6.37%, on the NYSE.