5 Dividend Stocks to Buy According to Stuart Zimmer’s Zimmer Partners

1. NuStar Energy L.P. (NYSE:NS)

Zimmer Partners’ Stake Value: $10,449,000
Percentage of Zimmer Partners’ 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 3
Dividend Yield: 11.10%

NuStar Energy L.P. (NYSE:NS) is in the business of transporting petroleum products and anhydrous ammonia, as well as storing and marketing them. On January 29, NuStar Energy L.P. (NYSE:NS) announced a quarterly dividend of $0.40 per share, in line with the previous. NuStar Energy L.P. (NYSE:NS) holds a 21-year track record of consistent dividend payouts.

On February 7, Wells Fargo analyst Michael Blum downgraded NuStar Energy L.P. (NYSE:NS) to ‘Equal Weight’, with a $17 price target. Blum believes that NuStar Energy L.P. (NYSE:NS)’s higher leverage and tempered future growth will result in slightly discounted EV/EBITDA multiples of 8.9x and 8.6x in 2022 and 2023, respectively, compared to other large group medians of 9.3 and 9.0x.

Zimmer Partners trimmed its position in NuStar Energy L.P. (NYSE:NS) in the fourth quarter by 44% to 657,966 shares, a position which accounted for 0.15% of the overall value of the firm’s 13F portfolio. Zimmer was one of just three hedge funds that were bullish on NuStar Energy L.P. (NYSE:NS) at the end of Q4, down from five funds in the preceding quarter.

You can also take a peek at 10 Technology Stocks to Buy According to Kevin Mccarthy’s Breakline Capital and 10 Real Estate Stocks to Buy Now According to Charles Fitzgerald’s V3 Capital

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