Mizuho Initiates Coverage on NuStar Energy L.P. (NS)
Equities research analysts at Mizuho assumed coverage on shares of NuStar Energy L.P. (NYSE:NS) in a report released on Thursday. The brokerage set a “neutral” rating and a $50.00 price target on the stock. Mizuho’s price target indicates a potential upside of 0.85% from the stock’s previous close.
A number of other brokerages have also recently weighed in on NS. Credit Suisse Group AG cut NuStar Energy L.P. from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $46.00 to $47.00 in a research report on Wednesday, August 3rd. Stifel Nicolaus upgraded NuStar Energy L.P. from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, September 13th. They noted that the move was a valuation call. FBR & Co started coverage on NuStar Energy L.P. in a research report on Friday, September 9th. They issued a “market perform” rating and a $48.00 target price on the stock. US Capital Advisors restated an “overweight” rating on shares of NuStar Energy L.P. in a research report on Wednesday, September 21st. Finally, Simmons restated a “neutral” rating and issued a $47.00 target price (up from $46.00) on shares of NuStar Energy L.P. in a research report on Saturday, June 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. NuStar Energy L.P. presently has an average rating of “Hold” and a consensus target price of $45.60.
NuStar Energy L.P. (NYSE:NS) opened at 49.58 on Thursday. The stock has a 50 day moving average price of $47.54 and a 200-day moving average price of $47.30. NuStar Energy L.P. has a 12-month low of $25.65 and a 12-month high of $53.47. The firm has a market capitalization of $3.86 billion, a PE ratio of 21.02 and a beta of 1.25.
NuStar Energy L.P. (NYSE:NS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $437.80 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.54 earnings per share. On average, equities research analysts forecast that NuStar Energy L.P. will post $2.16 EPS for the current year.
In related news, Director William E. Greehey acquired 1,991 shares of NuStar Energy L.P. stock in a transaction dated Wednesday, September 28th. The stock was acquired at an average cost of $47.00 per share, with a total value of $93,577.00. Following the purchase, the director now directly owns 3,031,981 shares in the company, valued at approximately $142,503,107. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William E. Greehey acquired 20,000 shares of NuStar Energy L.P. stock in a transaction dated 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 completion of the purchase, the director now owns 3,029,990 shares in the company, valued at $147,863,512. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in NS. Glenmede Trust Co. NA raised its stake in 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 in the last quarter. Advisor Group Inc. acquired a new stake in shares of NuStar Energy L.P. during the second quarter valued at approximately $181,000. Douglass Winthrop Advisors LLC acquired a new stake in shares of NuStar Energy L.P. during the second quarter valued at approximately $206,000. Sigma Planning Corp acquired a new stake in shares of NuStar Energy L.P. during the second quarter valued at approximately $215,000. Finally, IFP Advisors Inc boosted its stake in shares of NuStar Energy L.P. by 1.6% in the first quarter. IFP Advisors Inc now owns 5,349 shares of the company’s stock valued at $216,000 after buying an additional 86 shares during the period.
About NuStar Energy L.P.
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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