NuStar Energy L.P. (NYSE:NS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $55.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.63% from the stock’s previous close.
According to Zacks, “NuStar Energy owns a large and diverse asset portfolio that provides highly certain cash flows. Despite crude's historic decline, the partnership's low-risk business structure has enabled it to maintain its excellent track record of earnings surprise history, beating estimates in three of the last four quarters. Other positive attributes include its investment grade rating and strong track record for distribution growth. Finally, NuStar’s fee-based transportation and storage assets make it less susceptible to commodity price weakness. Therefore, being incrementally more positive on the partnership – particularly with its yield fairly well protected – we see the stock performing above the broader market.”
Several other equities analysts also recently issued reports on the company. FBR & Co assumed coverage on NuStar Energy L.P. in a research report on Friday, September 9th. They set a “market perform” rating and a $48.00 price objective for the company. Citigroup Inc. upgraded NuStar Energy L.P. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $52.00 in a research report on Friday, August 12th. Stifel Nicolaus upgraded NuStar Energy L.P. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Simmons reiterated a “neutral” rating and set a $47.00 price objective (up from $46.00) on shares of NuStar Energy L.P. in a research report on Saturday, June 25th. Finally, Mizuho assumed coverage on NuStar Energy L.P. in a research report on Thursday, September 29th. They set a “neutral” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. NuStar Energy L.P. currently has an average rating of “Hold” and a consensus price target of $48.10.
NuStar Energy L.P. (NYSE:NS) traded down 0.32% during trading on Tuesday, reaching $49.11. The company’s stock had a trading volume of 124,215 shares. The firm has a market capitalization of $3.82 billion, a P/E ratio of 20.82 and a beta of 1.25. NuStar Energy L.P. has a 52 week low of $25.65 and a 52 week high of $53.47. The firm has a 50-day moving average price of $47.54 and a 200-day moving average price of $47.48.
NuStar Energy L.P. (NYSE:NS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $437.80 million for the quarter, compared to the consensus estimate of $432.50 million. The firm’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, equities analysts anticipate that NuStar Energy L.P. will post $2.16 EPS for the current fiscal year.
In other news, Director William E. Greehey bought 20,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $48.80 per share, with a total value of $976,000.00. Following the purchase, the director now directly owns 3,029,990 shares in the company, valued at $147,863,512. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William E. Greehey bought 1,991 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were purchased at an average cost of $47.00 per share, for a total transaction of $93,577.00. Following the completion of the purchase, the director now owns 3,031,981 shares in the company, valued at $142,503,107. The disclosure for this purchase can be found here.
A number of hedge funds have recently made changes to their positions in NS. Glenmede Trust Co. NA increased its stake in shares of NuStar Energy L.P. by 34.3% in the second quarter. Glenmede Trust Co. NA now owns 3,037 shares of the company’s stock valued at $151,000 after buying an additional 775 shares during the period. Advisor Group Inc. purchased a new stake in shares of NuStar Energy L.P. during the second quarter valued at about $181,000. Sigma Planning Corp purchased a new stake in shares of NuStar Energy L.P. during the second quarter valued at about $215,000. Douglass Winthrop Advisors LLC purchased a new stake in shares of NuStar Energy L.P. during the second quarter valued at about $206,000. Finally, WFG Advisors LP increased its stake in shares of NuStar Energy L.P. by 72.3% in the second quarter. WFG Advisors LP now owns 4,768 shares of the company’s stock valued at $237,000 after buying an additional 2,000 shares during the period.
NuStar Energy L.P. Company Profile
NuStar Energy L.P. is engaged in the transportation of petroleum products and anhydrous ammonia; the terminaling and storage of petroleum products, and the marketing of petroleum products. The Company’s operating 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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