Nustar Energy LP Receives a Hold from B.Riley FBR

By Carrie Williams

B.Riley FBR analyst Robert Balsamo reiterated a Hold rating on Nustar Energy LP (NYSE: NS) today and set a price target of $26. The company’s shares opened today at $23.99, close to its 52-week low of $19.22.

Balsamo noted:

“NuStar Energy LP (NS) continues its 2018 transition as its simplification with NuStar GP Holdings ( NSH) remains on track, post Hurricane Harvey repairs and integration of acquisitions continue, and organic opportunities are pursued. During 1Q, NS realized strong operational performance from its Permian Crude system as well as increased storage rates on the partnership international storage facilities. We expect these trends to continue, in particular the Permian, as NS has allocated the majority of its capex budget towards further growth in the region. We are reiterating our Neutral rating and $26 PT for NS and we are reiterating our Neutral rating and $14 PT for NSH. As a reminder, NS is simplifying its structure and acquiring NSH for 0.55 NS units per NSH. Our NSH PT is derived through this conversion ratio.”

According to TipRanks.com, Balsamo has 0 stars on 0-5 star ranking scale with an average return of -8.4% and a 38.3% success rate. Balsamo covers the Basic Materials sector, focusing on stocks such as EnLink Midstream Partners, EnLink Midstream LLC, and NuStar GP Holdings.

Nustar Energy LP has an analyst consensus of Hold, with a price target consensus of $24.

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Nustar Energy LP’s market cap is currently $2.23B and has a P/E ratio of 17.80. The company has a Price to Book ratio of 1.31.

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NuStar Energy LP engages in the transportation of petroleum products and anhydrous ammonia, and the terminalling, storage and marketing of petroleum products. It operates through the following segments: Pipeline, Storage, and Fuels Marketing. The Pipeline segment provides transportation of refined petroleum products, crude oil and anhydrous ammonia.