NuStar Energy L.P. (NS) was Downgraded by Credit Suisse to ” Underperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 47 from a previous price target of $46 . Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Aug 3, 2016.
On the company’s financial health, NuStar Energy L.P. reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.47. The company had revenue of $437.80 million for the quarter, compared to analysts expectations of $445.22 million. The company’s revenue was down -23.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
NuStar Energy L.P. closed down -0.22 points or -0.45% at $49.19 with 4,09,914 shares getting traded on Tusday. Post opening the session at $49.86, the shares hit an intraday low of $48.25 and an intraday high of $50.479 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 30, 2016, William E Greehey (director) purchased 20,000 shares at $47.69 per share price. According to the SEC, on Dec 16, 2015, Dan J Hill (director) purchased 1,000 shares at $32.47 per share price. On Dec 14, 2015, Mary Rose Brown (EVP & CAO) purchased 500 shares at $33.91 per share price, according to the Form-4 filing with the securities and exchange commission.
NuStar Energy L.P. is engaged in the transportation of petroleum products and anhydrous ammonia the terminalling and storage of petroleum products and the marketing of petroleum products. The Company conducts its operations through its wholly owned subsidiaries primarily NuStar Logistics L.P. (NuStar Logistics) and NuStar Pipeline Operating Partnership L.P. (NuPOP). It operates in three business segments: pipeline storage and fuels marketing. The Company’s pipeline segment consists of the transportation of refined petroleum products crude oil and anhydrous ammonia. The Company’s storage segment includes terminal and storage facilities that provide storage handling and other services for petroleum products crude oil specialty chemicals and other liquids. The Company’s fuels marketing segment involve the purchase of crude oil fuel oil bunker fuel fuel oil blending components and other refined products for resale.