Dan Hill, a director at NuStar Energy (NS), recently picked up an even 5,000 shares. Paying about $10 per share, the buy came to $50,000. It increased his total holdings to 59,214 shares.
This is the first insider buy in six months. Insider buying for 2020 shows a number of insider buys, at prices anywhere from $6 at the March lows to $12. The buys include directors and C-suite executives.
Shares have traded between $5 and $30 in the past year at the oil and gas midstream company with a focus on pipeline and storage facilities. That means company insiders have shown good judgment in buying in the lower half of the company’s range.
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Action to take: As a pipeline company structured as a partnership, it makes the most sense to buy shares. The yield has been pushed up to double-digits with a drop in the share price. However, due to declining revenue, the payout may be cut. Investors should still see 8-10 percent yields, however, far above most dividends elsewhere.
For options traders, the seasonal strength of natural gas may be good for a move higher in shares in the next few months. The March 2021 $12.50 calls trade for about $0.90 based on bid/ask spread. Those options could move mid-to-high double digits if shares head up with colder weather.