Zacks Investment Research downgraded shares of NuStar Energy (NYSE:NS) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $30.00 price target on the pipeline company’s stock.
According to Zacks, “NuStar's diversified asset base, strong pipeline of organic growth projects and contribution from acquisitions bode well and have boosted its distributable cash flows of the partnership. NuStar's merger with its general partner, resulting in the elimination of IDRs is creating a more efficient and transparent structure along with boosting the prospects of the firm. NuStar’s acquisition of Navigator Energy Services, marks its entry into the Permian Basin and is likely to boost its revenue. However, the partnership’s high debt levels restrict its financial flexibility. Moreover, investor sentiment remains tepid since NuStar reduced its distribution as part of the merger with general partner. High capital expenditure for projects in 2019 may further limit the earnings and cash flow. As such, the stock warrants a cautious stance.”
A number of other equities research analysts have also recently issued reports on NS. ValuEngine raised shares of NuStar Energy from a strong sell rating to a sell rating in a research report on Wednesday, November 6th. Mizuho assumed coverage on shares of NuStar Energy in a research report on Friday, August 2nd. They set a neutral rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $28.40.
Shares of NuStar Energy stock traded down $0.13 on Tuesday, hitting $27.88. The stock had a trading volume of 318,084 shares, compared to its average volume of 460,456. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 16.04 and a beta of 1.56. The company has a quick ratio of 0.24, a current ratio of 0.26 and a debt-to-equity ratio of 2.86. NuStar Energy has a twelve month low of $19.81 and a twelve month high of $30.06. The business’s 50 day moving average is $28.35 and its two-hundred day moving average is $27.73.
NuStar Energy (NYSE:NS) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.18). NuStar Energy had a positive return on equity of 10.82% and a negative net margin of 10.42%. The firm had revenue of $378.06 million for the quarter, compared to analyst estimates of $397.50 million. During the same period in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts predict that NuStar Energy will post 1.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a $0.60 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.61%. NuStar Energy’s payout ratio is 358.21%.
A number of large investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of NuStar Energy by 2.7% in the 2nd quarter. Creative Planning now owns 17,011 shares of the pipeline company’s stock valued at $462,000 after buying an additional 442 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in NuStar Energy by 3.6% in the second quarter. Commonwealth Equity Services LLC now owns 17,638 shares of the pipeline company’s stock valued at $478,000 after acquiring an additional 609 shares during the last quarter. Moors & Cabot Inc. raised its position in NuStar Energy by 2.2% during the second quarter. Moors & Cabot Inc. now owns 30,129 shares of the pipeline company’s stock valued at $818,000 after purchasing an additional 644 shares in the last quarter. Van ECK Associates Corp raised its position in NuStar Energy by 3.3% during the second quarter. Van ECK Associates Corp now owns 28,381 shares of the pipeline company’s stock valued at $770,000 after purchasing an additional 894 shares in the last quarter. Finally, Brown Advisory Securities LLC lifted its stake in NuStar Energy by 9.2% during the second quarter. Brown Advisory Securities LLC now owns 12,280 shares of the pipeline company’s stock worth $333,000 after purchasing an additional 1,036 shares during the last quarter. 65.54% of the stock is currently owned by institutional investors and hedge funds.
About NuStar Energy
NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products. The company also engages in the transportation of petroleum products and anhydrous ammonia. It operates through three segments: Pipeline, Storage, and Fuels Marketing. The Pipeline segment transports refined petroleum products, crude oil, and anhydrous ammonia.
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