Citigroup Upgrades Nustar GP (NSH) to “Buy”
Nustar GP (NYSE:NSH) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $17.00 target price on the pipeline company’s stock. Citigroup’s price target indicates a potential upside of 22.30% from the stock’s current price.
A number of other equities research analysts have also recently commented on NSH. BidaskClub upgraded Nustar GP from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research cut Nustar GP from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. UBS lowered their target price on Nustar GP from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Mizuho reiterated a “hold” rating and set a $25.00 target price on shares of Nustar GP in a report on Friday, October 20th. Finally, Barclays lowered their target price on Nustar GP from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $22.33.
Nustar GP (NYSE NSH) opened at $13.90 on Tuesday. The firm has a market capitalization of $601.33, a P/E ratio of 10.37 and a beta of 1.03. Nustar GP has a one year low of $13.50 and a one year high of $31.50.
A number of institutional investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC raised its position in Nustar GP by 30.4% in the third quarter. Catalyst Capital Advisors LLC now owns 555,213 shares of the pipeline company’s stock valued at $12,215,000 after purchasing an additional 129,437 shares during the period. Center Coast Capital Advisors LP increased its position in shares of Nustar GP by 8.9% during the third quarter. Center Coast Capital Advisors LP now owns 1,175,843 shares of the pipeline company’s stock worth $25,869,000 after acquiring an additional 96,298 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Nustar GP by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 164,659 shares of the pipeline company’s stock worth $3,540,000 after acquiring an additional 81,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Nustar GP by 13.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 476,160 shares of the pipeline company’s stock worth $10,476,000 after acquiring an additional 57,985 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Nustar GP in the second quarter worth about $1,406,000. Hedge funds and other institutional investors own 55.64% of the company’s stock.
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About Nustar GP
NuStar GP Holdings, LLC holds interests in NuStar Energy L.P. (NuStar Energy). NuStar Energy is engaged in the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. NuStar Energy has terminal and storage facilities in the United States, Canada, Mexico, the Netherlands, including St.
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