NuStar Energy L.P. (NS) Sees Large Volume Increase
NuStar Energy L.P. (NYSE:NS) shares saw an uptick in trading volume on Friday . 258,894 shares traded hands during trading, an increase of 7% from the previous session’s volume of 242,296 shares.The stock last traded at $49.61 and had previously closed at $48.75.
A number of brokerages recently issued reports on NS. Citigroup Inc. upgraded shares of NuStar Energy L.P. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $52.00 in a research report on Friday. Credit Suisse Group AG lowered shares of NuStar Energy L.P. from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $46.00 to $47.00 in a research report on Wednesday, August 3rd. Simmons restated a “neutral” rating and set a $47.00 target price (up previously from $46.00) on shares of NuStar Energy L.P. in a research report on Saturday, June 25th. JPMorgan Chase & Co. raised their target price on shares of NuStar Energy L.P. from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 16th. Finally, TheStreet upgraded shares of NuStar Energy L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.38.
The company’s 50-day moving average price is $48.91 and its 200 day moving average price is $43.73. The firm has a market cap of $3.82 billion and a price-to-earnings ratio of 20.62.
NuStar Energy L.P. (NYSE:NS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The firm had revenue of $437.80 million for the quarter, compared to analyst estimates of $432.50 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s revenue was down 23.3% compared to the same quarter last year. On average, analysts forecast that NuStar Energy L.P. will post $2.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Tuesday, August 9th will be issued a dividend of $1.095 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $4.38 dividend on an annualized basis and a dividend yield of 8.93%.
In other news, Director William E. Greehey purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were acquired at an average price of $47.69 per share, for a total transaction of $953,800.00. Following the completion of the acquisition, the director now directly owns 3,009,990 shares of the company’s stock, valued at $143,546,423.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds and institutional investors recently made changes to their positions in the company. GSA Capital Partners LLP increased its position in shares of NuStar Energy L.P. by 12.8% in the fourth quarter. GSA Capital Partners LLP now owns 25,190 shares of the company’s stock worth $1,010,000 after buying an additional 2,866 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of NuStar Energy L.P. during the fourth quarter worth approximately $2,005,000. Finally, Marshall Wace LLP increased its position in shares of NuStar Energy L.P. by 42.0% in the fourth quarter. Marshall Wace LLP now owns 223,116 shares of the company’s stock worth $8,947,000 after buying an additional 65,972 shares during the last quarter.
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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