Credit Suisse Downgrades Northern Tier Energy LP to Neutral with Price Target $24.00

Brokerage firm Credit Suisse Downgrades its rating on Northern Tier Energy LP(NYSE:NTI). In a research note issued to the investors, the brokerage major Lowers the price-target to $24.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, On Feb 29, 2016, Barclays said it Downgrades its rating on Northern Tier Energy LP. In the research note, the firm Lowers the price-target to $31.00 per share. The shares have been rated ‘Underweight’ by the firm.

Northern Tier Energy LP (NTI) shares turned negative on Fridays trading session with the shares closing down -0.27 points or -1.17% at a volume of 14,66,259. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.16. The peak price level was also seen at $23.16 while the days lowest was $22.79. Finally the shares closed at $22.89. The 52-week high of the shares is $29.03 while the 52-week low is $22.15. According to the latest information available, the market cap of the company is $2,130 M.

Northern Tier Energy LP(NTI) last announced its earnings results on Feb 25, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $759.80M. Analysts had an estimated revenue of $793.67M. Earnings per share were $0.68. Analysts had estimated an EPS of $0.64.

Several Insider Transactions has been reported to the SEC. On Jan 22, 2016, Karen Berriman Davis (Exec VP, CFO) sold 1,693 shares at $24.33 per share price.Also, On Jan 22, 2016, David L Lamp (President and CEO) sold 12,885 shares at $24.33 per share price.On Jan 22, 2016, Scott L Stevens (Sr VP & Chief Commercial Offcr) sold 4,837 shares at $24.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Northern Tier Energy LP (Northern Tier) is a downstream energy limited partnership. The Company has refining retail and logistics operations that serve the Petroleum Administration for Defense District II (PADD II) region of the United States. Its segments include the refining business and the retail business. The Company’s refining segment consists of a 97800 barrels per stream day (bpsd) refinery located in St. Paul Park Minnesota. Its refineries process a variety of light heavy sweet and sour crudes into refined products. It is one of the two refineries in Minnesota and one of four refineries in the Upper Great Plains area within the PADD II region. The Company’s retail segment operated 165 convenience stores under the SuperAmerica brand and also supported 89 franchised convenience stores which are also operated under the SuperAmerica brand. These convenience stores are located throughout Minnesota Wisconsin and South Dakota.

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