By a News Reporter-Staff News Editor at Energy Weekly News -- NuStar GP Holdings, LLC (NYSE: NSH) announced that net income for the second quarter of 2014 was $15.8 million, or $0.37 per unit, compared to $12.6 million, or $0.29 per unit, for the second quarter of 2013. Second quarter 2014 distributable cash flow available to unitholders was $22.8 million, or $0.54 per unit, compared to $23.2 million, or $0.54 per unit, for the second quarter of 2013.
With respect to the quarterly distribution to unitholders for the second quarter of 2014, NuStar GP Holdings, LLC announced that its board of directors has declared a distribution of $0.545 per unit. The second quarter 2014 distribution will be paid on August 14, 2014, to holders of record as of August 6, 2014.
"NuStar GP Holdings, LLC benefitted from NuStar Energy L.P.'s strong second quarter results and remains well positioned given NuStar Energy L.P.'s strategic re-direction," said Brad Barron, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC.
A conference call with management is scheduled for 10:00 a.m. ET (9:00 a.m. CT) today, July 25, 2014, to discuss the financial results for the second quarter of 2014. Investors interested in listening to the presentation may call 800/622-7620, passcode 63499232. International callers may access the presentation by dialing 706/645-0327, passcode 63499232. The company intends to have a playback available following the presentation, which may be accessed by calling 800/585-8367, passcode 63499232. International callers may access the playback by calling 404/537-3406, passcode 63499232.
Investors interested in listening to the live presentation or a replay via the internet may access the presentation directly by clicking here or by logging on to NuStar GP Holdings, LLC's Web site at www.nustargpholdings.com.
NuStar GP Holdings, LLC is a publicly traded limited liability company that owns the two percent general partner interest, a 12.9 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P., one of the largest independent liquids terminal and pipeline operators in the nation. NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar GP Holdings, LLC's Web site at www.nustargpholdings.com.
Keywords for this news article include: Energy Companies, NuStar GP Holdings LLC.
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