Stifel Nicolaus Upgrades NuStar Energy L.P. to Buy (NS)
NuStar Energy L.P. (NYSE:NS) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $62.00 price target on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.08% from the company’s current price.
The analysts wrote, “The Partnership posted its strongest first quarter results in the last five years in part due to the discontinuation of its Asphalt business as well as stronger results in its Fuels Marketing segment. Also contributing to this quarter’s success was contracting 5 million barrels of storage capacity at St. Eustatius. Coverage for the quarter was 0.91x and management reiterated its 2014 goal of returning to 1.0x coverage ratio. “While the balance sheet remains leveraged at 4.4x debt to EBITDA, we believe the improving unit price offers management an opportunity to deleverage its balance sheet at some point. We are raising our rating to Buy and establishing a target price of $62.00 which is based on a yield target of 7.0% which compares favorably to their peer group average of 5.2%.”
A number of other analysts have also recently weighed in on NS. Analysts at Credit Suisse raised their price target on shares of NuStar Energy L.P. from $55.00 to $58.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of NuStar Energy L.P. from $46.00 to $55.00 in a research note on Friday, March 28th. Finally, analysts at Goldman Sachs upgraded shares of NuStar Energy L.P. from a “neutral” rating to a “buy” rating in a research note on Friday, March 14th. They now have a $62.00 price target on the stock, up previously from $49.00. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.00.
NuStar Energy L.P. (NYSE:NS) traded up 1.67% on Thursday, hitting $57.90. The stock had a trading volume of 590,125 shares. NuStar Energy L.P. has a 52 week low of $36.15 and a 52 week high of $57.94. The stock’s 50-day moving average is $54.31 and its 200-day moving average is $49.76. The company’s market cap is $4.510 billion.
NuStar Energy L.P. (NYSE:NS) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.36 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.36. The company had revenue of $849.20 million for the quarter, compared to the consensus estimate of $830.24 million. During the same quarter last year, the company posted $0.17 earnings per share. NuStar Energy L.P.’s revenue was down 14.9% compared to the same quarter last year. On average, analysts predict that NuStar Energy L.P. will post $1.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, May 12th. Investors of record on Wednesday, May 7th will be given a dividend of $1.095 per share. This represents a $4.38 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend is Monday, May 5th.
NuStar Energy L.P. (NYSE:NS) is engaged in the terminalling and storage of petroleum products, the transportation of petroleum products and anhydrous ammonia and asphalt and fuels marketing.
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