Nustar Energy L.P. (NS) Raised to “Hold” at 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.”

Several other brokerages have also issued reports on NS. Mizuho reissued a “hold” rating and set a $38.00 target price on shares of Nustar Energy L.P. in a research note on Friday. Wells Fargo & Company reissued a “market perform” rating and set a $37.00 target price (down from $42.00) on shares of Nustar Energy L.P. in a research note on Thursday, November 9th. They noted that the move was a valuation call. Barclays PLC cut their target price on shares of Nustar Energy L.P. from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. UBS AG cut their target price on shares of Nustar Energy L.P. from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Finally, Stifel Nicolaus cut their target price on shares of Nustar Energy L.P. from $42.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $42.56.

Nustar Energy L.P. (NYSE NS) traded down $0.66 during trading hours on Tuesday, hitting $31.07. 478,300 shares of the stock were exchanged, compared to its average volume of 364,689. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.33 and a current ratio of 0.36. Nustar Energy L.P. has a 12 month low of $31.06 and a 12 month high of $55.64. The company has a market cap of $2,951.93, a price-to-earnings ratio of 83.50 and a beta of 1.32.

Nustar Energy L.P. (NYSE:NS) last posted its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.12). Nustar Energy L.P. had a net margin of 6.09% and a return on equity of 6.89%. The firm had revenue of $440.60 million during the quarter, compared to the consensus estimate of $413.81 million. During the same period in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. equities analysts expect that Nustar Energy L.P. will post 0.88 EPS for the current year.

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In other Nustar Energy L.P. news, Director William E. Greehey acquired 43,101 shares of the stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $38.69 per share, for a total transaction of $1,667,577.69. Following the completion of the acquisition, the director now owns 3,497,763 shares in the company, valued at approximately $135,328,450.47. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William E. Greehey acquired 6,899 shares of the stock in a transaction on Wednesday, August 23rd. The shares were acquired at an average price of $38.61 per share, for a total transaction of $266,370.39. Following the acquisition, the director now owns 3,454,662 shares of the company’s stock, valued at approximately $133,384,499.82. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NS. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Nustar Energy L.P. by 213,865.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 4,311,408 shares of the pipeline company’s stock valued at $201,041,000 after purchasing an additional 4,309,393 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Nustar Energy L.P. by 25.9% in the second quarter. Alps Advisors Inc. now owns 5,772,723 shares of the pipeline company’s stock valued at $269,182,000 after purchasing an additional 1,188,735 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Nustar Energy L.P. by 15,930.4% in the second quarter. Eagle Global Advisors LLC now owns 1,043,580 shares of the pipeline company’s stock valued at $48,662,000 after purchasing an additional 1,037,070 shares during the last quarter. Center Coast Capital Advisors LP raised its holdings in shares of Nustar Energy L.P. by 12.3% in the third quarter. Center Coast Capital Advisors LP now owns 4,657,451 shares of the pipeline company’s stock valued at $189,046,000 after purchasing an additional 509,808 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its holdings in shares of Nustar Energy L.P. by 75.9% in the second quarter. Atlantic Trust Group LLC now owns 1,148,846 shares of the pipeline company’s stock valued at $53,571,000 after purchasing an additional 495,573 shares during the last quarter. 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.

Analyst Recommendations for Nustar Energy L.P. (NYSE:NS)

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