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NuStar GP Holdings, LLC Reports Fourth Quarter And Full Year 2012 Earnings Results

Stocks in this article: NSH

NuStar GP Holdings, LLC (NYSE: NSH) today announced that distributable cash flow available to unitholders for the fourth quarter of 2012 was $23.3 million, or $0.55 per unit, compared to $21.5 million, or $0.51 per unit, for the fourth quarter of 2011. For the year ended December 31, 2012, distributable cash flow available to unitholders was $90.8 million, or $2.13 per unit, compared to $84.3 million, or $1.98 per unit in 2011.

Fourth quarter 2012 net income was $5.1 million, or $0.12 per unit, compared to $19.0 million, or $0.45 per unit, for the fourth quarter of 2011. For the year ended December 31, 2012, net income was $2.1 million, or $0.05 per unit, compared to $69.6 million, or $1.64 per unit in 2011.

With respect to the quarterly distribution to unitholders for the fourth quarter of 2012, NuStar GP Holdings, LLC announced that its board of directors has declared a distribution of $0.545 per unit. The fourth quarter 2012 distribution will be paid on February 19, 2013, to holders of record as of February 11, 2013.

“Due primarily to the cash flow benefits realized as a result of NuStar Energy L.P. issuing equity during the third quarter of 2012, NuStar GP Holdings, LLC was able to increase its 2012 total distributions by 6.6%. Total 2012 declared distributions of $2.11 per unit were $0.13 per unit higher than the $1.98 per unit distribution declared in 2011,” said Curt Anastasio, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC.

In regard to NuStar GP Holdings, LLC future results Anastasio stated, “NuStar Energy’s recent crude oil asset acquisition and upcoming natural gas liquids asset acquisition from TexStar Midstream Services LP should provide NuStar GP Holdings, LLC with increased net income and distributable cash flow over the next couple of years which should lead to additional future distribution growth.”

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