Credit Suisse Downgrades NuStar Energy L.P. to Underperform with Price Target $47.00

Brokerage firm Credit Suisse Downgrades its rating on NuStar Energy L.P.(NYSE:NS). In a research note issued to the investors, the brokerage major Raises the price-target to $47.00 per share. The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Aug 3, 2016.

In a different note, On May 16, 2016, JP Morgan said it Maintains its rating on NuStar Energy L.P.. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

NuStar Energy L.P. (NS) made into the market gainers list on Fridays trading session with the shares advancing 0.57% or 0.28 points. Due to strong positive momentum, the stock ended at $49.03, which is also near the day’s high of $50.3. The stock began the session at $49.4 and the volume stood at 4,36,066 shares. The 52-week high of the shares is $53.5 and the 52 week low is $25.65. The company has a current market capitalization of $3,819 M and it has 7,78,86,442 shares in outstanding.

NuStar Energy L.P.(NS) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $437.80M. Analysts had an estimated revenue of $432.50M. Earnings per share were $0.52. Analysts had estimated an EPS of $0.50.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, William E Greehey (director) purchased 20,000 shares at $47.69 per share price.Also, 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.

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