NuStar Energy L.P. (NYSE:NS) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,320,000 shares, a decrease of 20.5% from the August 15th total of 1,660,000 shares. Currently, 1.4% of the company's stock are short sold. Based on an average daily trading volume, of 793,400 shares, the days-to-cover ratio is currently 1.7 days.
A number of institutional investors have recently bought and sold shares of NS. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of NuStar Energy by 69.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,569 shares of the pipeline company's stock valued at $65,000 after purchasing an additional 1,869 shares in the last quarter. Van ECK Associates Corp acquired a new stake in NuStar Energy in the first quarter valued at approximately $77,000. Commonwealth Equity Services LLC raised its holdings in shares of NuStar Energy by 23.6% in the first quarter. Commonwealth Equity Services LLC now owns 12,129 shares of the pipeline company's stock worth $104,000 after buying an additional 2,312 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of NuStar Energy in the second quarter worth $144,000. Finally, Heronetta Management L.P. raised its holdings in shares of NuStar Energy by 29.2% in the first quarter. Heronetta Management L.P. now owns 17,690 shares of the pipeline company's stock worth $152,000 after buying an additional 4,000 shares during the last quarter. 57.40% of the stock is currently owned by institutional investors.
NS has been the topic of a number of research reports. ValuEngine downgraded NuStar Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, September 1st. Bank of America started coverage on NuStar Energy in a report on Wednesday, August 19th. They set a "neutral" rating for the company. Zacks Investment Research raised NuStar Energy from a "strong sell" rating to a "hold" rating and set a $15.00 price objective for the company in a report on Friday, July 24th. Mizuho raised their price target on NuStar Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, TheStreet downgraded NuStar Energy from a "c-" rating to a "d+" rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. NuStar Energy presently has an average rating of "Hold" and an average price target of $15.20.
NuStar Energy stock traded up $0.14 during trading hours on Wednesday, hitting $12.05. 612,448 shares of the stock traded hands, compared to its average volume of 1,087,800. The firm's 50-day moving average price is $13.89 and its two-hundred day moving average price is $13.52. NuStar Energy has a one year low of $4.98 and a one year high of $29.83. The company has a market cap of $1.32 billion, a PE ratio of -10.86 and a beta of 2.44. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 4.85.
NuStar Energy (NYSE:NS) last announced its earnings results on Tuesday, August 4th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.22). The company had revenue of $339.50 million for the quarter, compared to analysts' expectations of $363.67 million. NuStar Energy had a net margin of 0.55% and a return on equity of 23.17%. NuStar Energy's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, sell-side analysts expect that NuStar Energy will post 1.58 earnings per share for the current fiscal year.
NuStar Energy Company 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.
Further Reading: Are sell-side analysts objective?
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7 Gun Stocks to Buy During the Coronavirus Pandemic
Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.
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