NuStar Energy L.P. to Post Q3 2023 Earnings of $0.18 Per Share, Zacks Research Forecasts (NYSE:NS)

NuStar Energy L.P. (NYSE:NS) – Investment analysts at Zacks Research cut their Q3 2023 earnings estimates for NuStar Energy in a research report issued on Tuesday, September 12th. Zacks Research analyst T. Saha now expects that the pipeline company will post earnings per share of $0.18 for the quarter, down from their previous forecast of $0.20. The consensus estimate for NuStar Energy’s current full-year earnings is $0.79 per share. Zacks Research also issued estimates for NuStar Energy’s FY2023 earnings at $0.76 EPS, Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.27 EPS, FY2024 earnings at $1.01 EPS, Q2 2025 earnings at $0.37 EPS and FY2025 earnings at $1.06 EPS.

Several other research firms also recently weighed in on NS. StockNews.com assumed coverage on shares of NuStar Energy in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Barclays raised their price target on shares of NuStar Energy from $18.00 to $19.00 in a research note on Tuesday, July 18th. TheStreet raised shares of NuStar Energy from a “c+” rating to a “b” rating in a research note on Tuesday, May 30th. Finally, Stifel Nicolaus decreased their price target on shares of NuStar Energy from $21.00 to $20.00 in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.33.

NuStar Energy Stock Performance

NYSE:NS opened at $17.26 on Wednesday. The company’s 50-day moving average price is $16.85 and its 200-day moving average price is $16.42. The company has a current ratio of 0.92, a quick ratio of 0.86 and a debt-to-equity ratio of 29.29. The company has a market cap of $1.91 billion, a P/E ratio of 21.85 and a beta of 1.80. NuStar Energy has a twelve month low of $12.80 and a twelve month high of $18.16.

NuStar Energy (NYSE:NS) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.06). The company had revenue of $378.33 million during the quarter, compared to analyst estimates of $372.52 million. NuStar Energy had a net margin of 18.78% and a return on equity of 162.85%.

NuStar Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Tuesday, August 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.27%. The ex-dividend date of this dividend was Monday, August 7th. NuStar Energy’s dividend payout ratio (DPR) is presently 202.53%.

Hedge Funds Weigh In On NuStar Energy

A number of institutional investors have recently bought and sold shares of the company. Resources Management Corp CT ADV raised its stake in NuStar Energy by 2,390.0% during the second quarter. Resources Management Corp CT ADV now owns 6,225 shares of the pipeline company’s stock worth $107,000 after purchasing an additional 5,975 shares during the period. Castleark Management LLC purchased a new stake in shares of NuStar Energy in the 2nd quarter valued at approximately $697,000. Wells Fargo & Company MN raised its stake in shares of NuStar Energy by 1.2% in the 2nd quarter. Wells Fargo & Company MN now owns 261,089 shares of the pipeline company’s stock valued at $4,475,000 after acquiring an additional 3,136 shares during the period. Captrust Financial Advisors raised its stake in shares of NuStar Energy by 0.7% in the 2nd quarter. Captrust Financial Advisors now owns 143,382 shares of the pipeline company’s stock valued at $2,458,000 after acquiring an additional 1,011 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of NuStar Energy by 17.3% in the 2nd quarter. Royal Bank of Canada now owns 55,006 shares of the pipeline company’s stock valued at $943,000 after acquiring an additional 8,113 shares during the period. 56.35% of the stock is owned by hedge funds and other institutional investors.

About NuStar Energy

NuStar Energy L.P. engages in the transportation terminalling and storage of petroleum products and renewable fuels, and transportation of anhydrous ammonia in the United States and internationally. It operates through Pipeline, Storage, and Fuels Marketing segments. The Pipeline segment engages in the transportation of refined products, crude oil, and anhydrous ammonia.