NuStar GP Holdings, LLC (NSH) Upgraded by Zacks Investment Research to Buy
NuStar GP Holdings, LLC (NYSE:NSH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $28.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 13.96% from the company’s previous close.
According to Zacks, “NUSTAR GP HOLDINGS is a publicly traded limited liability company that owns the two percent general partner interest, a 18.4 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P.They are one of the largest asphalt refiners and marketers and independent terminal and petroleum liquids pipeline operators in the nation with operations in the United States, Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. “
Several other equities analysts also recently commented on the stock. Citigroup Inc. upgraded shares of NuStar GP Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $29.00 in a research note on Friday, August 12th. TheStreet downgraded shares of NuStar GP Holdings from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Mizuho initiated coverage on shares of NuStar GP Holdings in a research note on Thursday, September 29th. They issued a “neutral” rating and a $26.00 price target for the company. Finally, US Capital Advisors restated a “hold” rating on shares of NuStar GP Holdings in a research note on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.17.
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NuStar GP Holdings (NYSE:NSH) traded down 2.69% during trading on Wednesday, hitting $24.57. The company had a trading volume of 40,583 shares. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 17.15 and a beta of 1.02. The firm’s 50 day moving average is $24.69 and its 200-day moving average is $24.25. NuStar GP Holdings has a 52-week low of $12.86 and a 52-week high of $31.55.
NuStar GP Holdings (NYSE:NSH) last posted its earnings results on Tuesday, August 2nd. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. On average, equities analysts forecast that NuStar GP Holdings will post $1.48 earnings per share for the current year.
In related news, Director William E. Greehey purchased 16,308 shares of NuStar GP Holdings stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $24.72 per share, with a total value of $403,133.76. Following the completion of the transaction, the director now directly owns 8,584,823 shares in the company, valued at $212,216,824.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Clingman sold 5,550 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $25.35, for a total transaction of $140,692.50. Following the completion of the sale, the director now directly owns 40,947 shares of the company’s stock, valued at $1,038,006.45. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the stock. Atlantic Trust Group LLC boosted its stake in shares of NuStar GP Holdings by 9.2% in the second quarter. Atlantic Trust Group LLC now owns 1,126,260 shares of the company’s stock worth $28,878,000 after buying an additional 94,899 shares during the period. Center Coast Capital Advisors LP boosted its stake in shares of NuStar GP Holdings by 33.9% in the second quarter. Center Coast Capital Advisors LP now owns 1,071,912 shares of the company’s stock worth $27,484,000 after buying an additional 271,611 shares during the period. Eagle Global Advisors LLC boosted its stake in shares of NuStar GP Holdings by 9.0% in the second quarter. Eagle Global Advisors LLC now owns 509,903 shares of the company’s stock worth $13,074,000 after buying an additional 42,132 shares during the period. Cohen & Steers Inc. boosted its stake in shares of NuStar GP Holdings by 55.4% in the second quarter. Cohen & Steers Inc. now owns 388,410 shares of the company’s stock worth $9,959,000 after buying an additional 138,487 shares during the period. Finally, HITE Hedge Asset Management LLC boosted its stake in shares of NuStar GP Holdings by 216.6% in the second quarter. HITE Hedge Asset Management LLC now owns 223,819 shares of the company’s stock worth $5,739,000 after buying an additional 153,120 shares during the period.
About NuStar GP Holdings
NuStar GP Holdings, LLC holds interests in NuStar Energy L.P. (NuStar Energy). NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products, and the marketing of petroleum products. NuStar Energy has terminal and storage facilities in the United States, Canada, Mexico, the Netherlands, including St.
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