Bank of America Begins Coverage on NuStar Energy (NS)

Bank of America began coverage on shares of NuStar Energy (NYSE:NS) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $27.00 price target on the pipeline company’s stock.

A number of other equities research analysts have also recently weighed in on NS. ValuEngine cut NuStar Energy from a hold rating to a sell rating in a research note on Thursday, November 1st. Zacks Investment Research raised NuStar Energy from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Tuesday, January 8th. Citigroup decreased their target price on NuStar Energy from $27.00 to $25.00 and set a neutral rating for the company in a report on Thursday, November 29th. Finally, UBS Group lowered NuStar Energy from a buy rating to a neutral rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $26.44.

NS stock opened at $25.00 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 2.12. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 39.06 and a beta of 1.61. NuStar Energy has a 52-week low of $19.22 and a 52-week high of $35.91.

NuStar Energy (NYSE:NS) last posted its earnings results on Monday, November 5th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $472.87 million. NuStar Energy had a return on equity of 32.29% and a net margin of 12.03%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, equities research analysts anticipate that NuStar Energy will post 1.56 earnings per share for the current fiscal year.

In other NuStar Energy news, Director William E. Greehey purchased 100,000 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was bought at an average cost of $22.98 per share, with a total value of $2,298,000.00. Following the acquisition, the director now directly owns 9,058,682 shares of the company’s stock, valued at $208,168,512.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dan J. Hill purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 24th. The shares were acquired at an average cost of $20.73 per share, with a total value of $41,460.00. Following the completion of the acquisition, the director now directly owns 38,631 shares in the company, valued at $800,820.63. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. lifted its holdings in shares of NuStar Energy by 32.3% in the 3rd quarter. OppenheimerFunds Inc. now owns 11,781,549 shares of the pipeline company’s stock valued at $327,527,000 after purchasing an additional 2,873,964 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of NuStar Energy by 345.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,033,745 shares of the pipeline company’s stock valued at $84,339,000 after purchasing an additional 2,352,353 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of NuStar Energy by 31.4% in the 3rd quarter. Alps Advisors Inc. now owns 8,621,448 shares of the pipeline company’s stock valued at $239,676,000 after purchasing an additional 2,057,744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NuStar Energy in the 3rd quarter valued at about $36,035,000. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in shares of NuStar Energy by 18.8% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,918,079 shares of the pipeline company’s stock valued at $81,123,000 after purchasing an additional 461,705 shares during the last quarter. 58.53% of the stock is owned by institutional investors.

NuStar Energy Company Profile

NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products in Texas. 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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