Morgan Stanley trimmed its holdings in NuStar Energy L.P. (NYSE:NS) by 9.4% during the first quarter, HoldingsChannel.com reports. The fund owned 2,470,010 shares of the pipeline company’s stock after selling 256,311 shares during the period. Morgan Stanley’s holdings in NuStar Energy were worth $21,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in NuStar Energy in the 4th quarter valued at about $66,000. Level Four Advisory Services LLC purchased a new position in shares of NuStar Energy in the 4th quarter valued at approximately $249,000. Vestcor Investment Management Corp acquired a new position in shares of NuStar Energy in the fourth quarter valued at approximately $143,000. Van ECK Associates Corp purchased a new stake in shares of NuStar Energy during the first quarter worth approximately $77,000. Finally, Archer Investment Corp purchased a new stake in shares of NuStar Energy during the fourth quarter worth approximately $244,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.
A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of NuStar Energy from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. US Capital Advisors raised NuStar Energy from a “hold” rating to an “overweight” rating in a report on Friday, March 13th. TheStreet downgraded NuStar Energy from a “c-” rating to a “d+” rating in a research note on Tuesday, May 19th. ValuEngine raised NuStar Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Co dropped their target price on shares of NuStar Energy from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.80.
NYSE:NS opened at $14.28 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 4.49. The company has a market capitalization of $1.51 billion, a P/E ratio of -13.35 and a beta of 2.52. The firm has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $18.67. NuStar Energy L.P. has a twelve month low of $4.98 and a twelve month high of $30.06.
NuStar Energy (NYSE:NS) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.03). The company had revenue of $392.79 million for the quarter, compared to analyst estimates of $421.13 million. NuStar Energy had a return on equity of 23.62% and a net margin of 1.59%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that NuStar Energy L.P. will post 1.45 earnings per share for the current year.
NuStar Energy Profile
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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