Nustar Energy L.P. (NS) Stock Rating Upgraded by Zacks Investment Research
Nustar Energy L.P. (NYSE:NS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “NuStar has successfully weathered crude's historic decline through its large and diverse asset portfolio that provides highly certain cash flows. Other positive attributes include its investment grade rating and strong track record for distribution growth. NuStar’s fee-based transportation and storage assets make it less susceptible to commodity price weakness. Further, the partnership acquired Dallas-based private pipeline company, Navigator Energy Services, which marks the partnership’s entry into the Permian Basin and is likely to boost its revenue. However, we believe that MLP valuations will be largely disconnected from business fundamentals as long as the hoopla over crude prices continues. We are also concerned about the partnership’s high leverage. As such, we see NuStar units performing in line with the broader market.”
Other analysts have also issued reports about the stock. Wells Fargo & Company lowered shares of Nustar Energy L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. BidaskClub lowered shares of Nustar Energy L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. UBS AG reissued a “buy” rating and set a $53.00 target price (down from $56.00) on shares of Nustar Energy L.P. in a research note on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and set a $46.00 target price on shares of Nustar Energy L.P. in a research note on Thursday, August 3rd. Finally, ValuEngine lowered shares of Nustar Energy L.P. from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Nustar Energy L.P. has an average rating of “Hold” and a consensus price target of $42.56.
Shares of Nustar Energy L.P. (NYSE NS) traded down $0.98 during trading hours on Tuesday, hitting $30.09. 300,777 shares of the stock were exchanged, compared to its average volume of 364,689. The firm has a market cap of $2,800.00, a price-to-earnings ratio of 83.50 and a beta of 1.32. Nustar Energy L.P. has a 12 month low of $31.06 and a 12 month high of $55.64. The company has a current ratio of 0.36, a quick ratio of 0.33 and a debt-to-equity ratio of 1.77.
Nustar Energy L.P. (NYSE:NS) last issued its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.12). The company had revenue of $440.60 million during the quarter, compared to analyst estimates of $413.81 million. Nustar Energy L.P. had a return on equity of 6.89% and a net margin of 6.09%. The company’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. equities analysts forecast that Nustar Energy L.P. will post 0.88 earnings per share for the current fiscal year.
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In other news, Director William E. Greehey purchased 43,101 shares of Nustar Energy L.P. stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $38.69 per share, for a total transaction of $1,667,577.69. Following the transaction, the director now owns 3,497,763 shares in the company, valued at $135,328,450.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William E. Greehey purchased 6,899 shares of Nustar Energy L.P. stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $38.61 per share, with a total value of $266,370.39. Following the transaction, the director now owns 3,454,662 shares in the company, valued at approximately $133,384,499.82. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its stake in Nustar Energy L.P. by 443.8% in the 2nd quarter. Citigroup Inc. now owns 19,668 shares of the pipeline company’s stock valued at $918,000 after buying an additional 16,051 shares during the period. Rockefeller Financial Services Inc. acquired a new position in Nustar Energy L.P. in the 3rd quarter valued at approximately $765,000. AlphaMark Advisors LLC increased its stake in Nustar Energy L.P. by 9.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 5,898 shares of the pipeline company’s stock valued at $275,000 after buying an additional 500 shares during the period. Adams Asset Advisors LLC increased its stake in Nustar Energy L.P. by 4.4% in the 3rd quarter. Adams Asset Advisors LLC now owns 154,910 shares of the pipeline company’s stock valued at $6,287,000 after buying an additional 6,507 shares during the period. Finally, Third Security LLC increased its stake in Nustar Energy L.P. by 24.6% in the 2nd quarter. Third Security LLC now owns 145,200 shares of the pipeline company’s stock valued at $6,771,000 after buying an additional 28,700 shares during the period. Hedge funds and other institutional investors own 57.75% of the company’s stock.
About Nustar Energy L.P.
NuStar Energy L.P. is engaged in the transportation of petroleum products and anhydrous ammonia; the terminalling and storage of petroleum products, and the marketing of petroleum products. The Company’s segments include pipeline, storage and fuels marketing. The pipeline segment consists of the transportation of refined petroleum products, crude oil and anhydrous ammonia.
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