According to The Fly, on Friday, analysts at Wells Fargo & Company downgraded NuStar Energy (NYSE: N.S.), moving the stock from “overweight” to “underweight” in their recommendations for the company.
Numerous additional research studies have been conducted on N.S. as a subject of interest. In a research report published on November 4, Mizuho lowered their “neutral” rating for NuStar Energy and their price target, which had previously been set at $18.00. The report was released on Friday. On November 18, a Friday, the recommendation for NuStar Energy over at StockNews.com was changed from “hold” to “buy.” This change took effect immediately.
On Friday, shares of NYSE: N.S. started trading at $15.02 each when the market opened. A quick ratio of 0.74, a current ratio of 0.80, and an outstanding debt-to-equity ratio of 18.14 are some of the present ratios. The company’s moving average price over the previous 50 days is $15.68, and the moving average price over the previous 200 days is $15.21. NuStar Energy has seen a price as low as $12.80 over the past 52 weeks, while the company has seen as high as $18.05 over the same period. The company has a price-to-earnings ratio of 40.59, a beta value of 1.99, and a market capitalization of $1.66 billion.
On November 3, the most recent quarterly earnings report was made public for NuStar Energy, which trades on the New York Stock Exchange (NYSE) under the symbol N.S. The pipeline company reported earnings per share for the quarter of $0.20, which was $0.09 less than the consensus estimate of $0.29 released on December 3. In addition, the pipeline company announced that it earned $0.20 per share for the quarter, which was $0.09 less than the consensus estimate of $0.29 per share. NuStar Energy had a return on equity of 121.01%, and the company’s net margin was 11.29%. Both of these figures are percentages. The revenue for the quarter came in significantly higher than the $374.11 million that analysts had anticipated, coming in at a total of $413.24 million instead. Sell-side analysts forecast that NuStar Energy will generate $0.69 per share earnings during the current fiscal year.
Recently, several hedge funds have altered the interests they currently hold in the company due to recent transactions. In the first three months of 2018, Invesco Ltd. increased the percentage of NuStar Energy shares it owned by 6.5%. Invesco Ltd. now has 15,954,362 shares of the pipeline company’s stock, which have an estimated market value of $230,061,000 following the purchase of an additional 975,659 shares during the most recent quarter. In addition, the amount of NuStar Energy stock owned by Mirae Asset Global Investments Co. Ltd. increased by 21.5% over the second quarter. Mirae Asset Global Investments Co. Ltd. now has a total of 4,110,722 shares in the pipeline, which have a value of $57,550,000 thanks to the purchase of 728,270 additional shares during the most recent fiscal quarter. During the first three months of the year, JPMorgan Chase & Co. increased the number of NuStar Energy shares it owned by 50.7%. After purchasing an additional 489,108 shares during the period, JPMorgan Chase & Co. now owns a total of 1,453,728 shares of the pipeline company’s stock, which has a total value of $20,963,000. This brings the total number of shares that JPMorgan Chase & Co. During the second quarter of this year, Natixis increased the percentage of NuStar Energy shares it owned by 76.7 percent. Currently, Natixis is the owner of a total of 799,800 shares of the pipeline company’s stock, which are worth $11,197,000. This represents an increase of 347,200 shares acquired during the most recent quarter of the company’s fiscal year. And finally, during the first three months of this year, UBS Group AG’s holdings in NuStar Energy increased by 20.1%, which brings us to the end of our discussion. UBS Group AG is now the owner of 1,426,223 shares of the pipeline company’s stock, which have a value of $20,566,000 following the acquisition of an additional 239,046 shares during the most recent period. These shares have a value of $20,566,000. Institutional investors and hedge funds are responsible for the ownership of a combined total of 57.33% of the company’s stock.
In addition to terminating, storing, and selling petroleum products in the United States and other countries, NuStar Energy L.P. is in charge of these operations internationally. In addition to that, the company is also in the business of transporting anhydrous ammonia and petroleum products. It has three operational divisions: marketing of petroleum products, storage of petroleum products, and transportation of petroleum through pipelines.
Read More: Wells Fargo & Company downgraded NuStar Energy (NYSE:NS) to “Underweight.”