Zacks Investment Research Downgrades NuStar GP (NSH) to Strong Sell
NuStar GP (NYSE:NSH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “NUSTAR GP HOLDINGS is a publicly traded limited liability company that owns the two percent general partner interest, a 18.4 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P.They are one of the largest asphalt refiners and marketers and independent terminal and petroleum liquids pipeline operators in the nation with operations in the United States, Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. “
NSH has been the subject of a number of other research reports. UBS reduced their price target on NuStar GP from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Mizuho reaffirmed a “hold” rating and issued a $25.00 price target on shares of NuStar GP in a research report on Friday, October 20th. BidaskClub raised NuStar GP from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Citigroup raised NuStar GP from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, December 5th. Finally, Barclays reduced their price target on NuStar GP from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $22.33.
NuStar GP (NYSE NSH) traded up $0.30 on Wednesday, reaching $15.15. The company had a trading volume of 381,300 shares, compared to its average volume of 138,535. The firm has a market capitalization of $637.83, a PE ratio of 11.00 and a beta of 1.03. NuStar GP has a 52-week low of $13.50 and a 52-week high of $31.50.
Several hedge funds and other institutional investors have recently bought and sold shares of NSH. BNP Paribas Arbitrage SA acquired a new position in shares of NuStar GP during the 3rd quarter worth about $103,000. Proficio Capital Partners LLC lifted its position in shares of NuStar GP by 11.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 9,345 shares of the pipeline company’s stock worth $214,000 after purchasing an additional 925 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of NuStar GP by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 8,841 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 495 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of NuStar GP during the 2nd quarter worth about $237,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of NuStar GP during the 2nd quarter worth about $246,000. 55.64% of the stock is owned by institutional investors and hedge funds.
About NuStar GP
NuStar GP Holdings, LLC holds interests in NuStar Energy L.P. (NuStar Energy). NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. NuStar Energy has terminal and storage facilities in the United States, Canada, Mexico, the Netherlands, including St.
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