Morgan Stanley cut its stake in shares of NuStar Energy L.P. (NYSE:NS) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,470,010 shares of the pipeline company’s stock after selling 256,311 shares during the quarter. Morgan Stanley owned about 2.26% of NuStar Energy worth $21,217,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NS. Archer Investment Corp purchased a new stake in NuStar Energy in the fourth quarter valued at approximately $244,000. Rockefeller Capital Management L.P. lifted its stake in NuStar Energy by 25.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 24,400 shares of the pipeline company’s stock valued at $210,000 after acquiring an additional 5,000 shares during the period. Harvest Fund Advisors LLC boosted its holdings in shares of NuStar Energy by 3.1% in the 1st quarter. Harvest Fund Advisors LLC now owns 5,275,132 shares of the pipeline company’s stock valued at $45,313,000 after acquiring an additional 157,356 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of NuStar Energy by 33.4% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 10,554,040 shares of the pipeline company’s stock worth $272,822,000 after acquiring an additional 2,640,278 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of NuStar Energy by 60.6% during the first quarter. Pacer Advisors Inc. now owns 4,090 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 1,544 shares during the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NS stock opened at $14.28 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 4.49. NuStar Energy L.P. has a 12-month low of $4.98 and a 12-month high of $30.06. The business’s 50 day moving average is $15.76 and its two-hundred day moving average is $18.67. The company has a market capitalization of $1.51 billion, a P/E ratio of -13.35 and a beta of 2.52.
Several equities research analysts have weighed in on NS shares. US Capital Advisors raised NuStar Energy from a “hold” rating to an “overweight” rating in a research report on Friday, March 13th. UBS Group raised their target price on NuStar Energy from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Mizuho decreased their price target on NuStar Energy from $33.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Wells Fargo & Co lowered their price objective on NuStar Energy from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Finally, TheStreet lowered shares of NuStar Energy from a “c-” rating to a “d+” rating in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.80.
NuStar Energy 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.
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