Zacks Investment Research upgraded shares of NuStar GP (NYSE:NSH) from a hold rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $14.00 price objective on the pipeline company’s stock.
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. “
Several other analysts have also commented on NSH. Barclays decreased their price target on shares of 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. Mizuho reaffirmed a hold rating and issued a $21.00 price objective on shares of NuStar GP in a research report on Friday, November 10th. Citigroup raised shares of NuStar GP from a neutral rating to a buy rating and set a $17.00 price objective for the company in a research report on Tuesday, December 5th. ValuEngine lowered shares of NuStar GP from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, B. Riley initiated coverage on shares of NuStar GP in a research report on Friday, January 26th. They issued a buy rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $20.38.
NuStar GP (NYSE:NSH) last released its quarterly earnings results on Thursday, February 8th. The pipeline company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.12). The firm had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $12.68 million. NuStar GP had a net margin of 168.31% and a return on equity of 23.49%. sell-side analysts forecast that NuStar GP will post 1.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 19.29%. The ex-dividend date was Wednesday, February 7th. NuStar GP’s payout ratio is currently 108.46%.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA purchased a new position in shares of NuStar GP in the 3rd quarter valued at approximately $103,000. Covenant Multifamily Offices LLC purchased a new position in shares of NuStar GP in the 4th quarter valued at approximately $131,000. Alliancebernstein L.P. raised its position in shares of NuStar GP by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 8,841 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 495 shares during the last quarter. Raymond James & Associates acquired a new position in NuStar GP in the 4th quarter worth approximately $168,000. Finally, Brown Advisory Inc. increased its holdings in NuStar GP by 70.0% in the 4th quarter. Brown Advisory Inc. now owns 17,000 shares of the pipeline company’s stock worth $267,000 after buying an additional 7,000 shares during the period. 55.53% of the stock is owned by hedge funds and other institutional investors.
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NuStar GP Company Profile
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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