NuStar Energy L.P. engages in the terminalling, storage, and marketing of petroleum products in the United States and internationally. 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 products, crude oil, and anhydrous ammonia. The Storage segment owns terminal and storage facilities, which offer storage, handling, and other services for petroleum products, crude oil, specialty chemicals, renewable fuels, and other liquids. This segment also provides pilotage, tug assistance, line handling, launch, emergency response, and other ship services. The Fuels Marketing segment is involved in bunkering operations in the Gulf Coast; blending operations; and purchase of petroleum products for resale. As of December 31, 2020, the company had 3,205 miles of refined product pipelines and 2,205 miles of crude oil pipelines in Texas, Oklahoma, Kansas, Colorado, and New Mexico; a 2,050-mile refined product pipeline originating in southern Kansas and terminating at Jamestown, North Dakota; a 450-mile refined product pipeline originating at Marathon Petroleum Corporation's Mandan, North Dakota refinery and terminating in Minneapolis, Minnesota; a 2,000 mile anhydrous ammonia pipeline; and 38 terminal and storage facilities, which offer approximately 59.0 million barrels of storage capacity. NuStar Energy L.P. was incorporated in 1999 and is headquartered in San Antonio, Texas.
IPO Year: n/a
Exchange: NYSE
Website: nustarenergy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/10/2024 | $19.00 | Neutral → Underweight | JP Morgan |
| 10/6/2023 | $17.00 | Neutral | Citigroup |
| 4/21/2023 | $20.00 | Mkt Perform → Outperform | Raymond James |
| 3/7/2023 | $20.00 → $19.50 | Hold → Buy | Stifel |
| 12/16/2022 | $18.00 → $16.00 | Overweight → Underweight | Wells Fargo |
| 5/31/2022 | $17.00 → $18.00 | Equal Weight → Overweight | Wells Fargo |
| 2/7/2022 | $17.00 | Overweight → Equal-Weight | Wells Fargo |
| 12/16/2021 | $19.00 → $17.00 | Overweight | Wells Fargo |
| 11/5/2021 | Neutral → Buy | UBS | |
| 8/6/2021 | $19.00 → $17.00 | Overweight | Barclays |
JP Morgan downgraded NuStar Energy from Neutral to Underweight and set a new price target of $19.00
Citigroup initiated coverage of NuStar Energy with a rating of Neutral and set a new price target of $17.00
Raymond James upgraded NuStar Energy from Mkt Perform to Outperform and set a new price target of $20.00
Stifel upgraded NuStar Energy from Hold to Buy and set a new price target of $19.50 from $20.00 previously
Wells Fargo downgraded NuStar Energy from Overweight to Underweight and set a new price target of $16.00 from $18.00 previously
Wells Fargo upgraded NuStar Energy from Equal Weight to Overweight and set a new price target of $18.00 from $17.00 previously
Wells Fargo downgraded NuStar Energy from Overweight to Equal-Weight and set a new price target of $17.00
Wells Fargo reiterated coverage of NuStar Energy with a rating of Overweight and set a new price target of $17.00 from $19.00 previously
UBS upgraded NuStar Energy from Neutral to Buy
Barclays reiterated coverage of NuStar Energy with a rating of Overweight and set a new price target of $17.00 from $19.00 previously
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The board of directors of NuStar Energy L.P. (NYSE:NS) announced the retirement of James "Fully" Clingman, Jr., effective October 27, 2021. "We are truly grateful for Fully's service and commitment to NuStar for the last 15 years," said Bill Greehey, NuStar's chairman of the board. "He has been a tremendous asset to our board and to our company as he is not only a strong business and civic leader, but also a caring individual who really understands the importance of our unique culture that values all stakeholders. Because of his personal values and his vast experience in running a large corporation, we could always count on Fully to provide calm, thoughtful advice that unfailingly consider
NuStar Energy L.P. (NYSE:NS) today announced solid results for the fourth quarter and full-year 2023 fueled by strong revenues and volumes in its refined products pipelines and strong performance in its Fuels Marketing Segment. NuStar reported net income of $70 million for the fourth quarter of 2023, or $0.37 per unit, compared to net income of $92 million, or $0.18 per unit, for the fourth quarter of 2022. Results for the fourth quarter of 2022 include a gain from insurance proceeds to rebuild tanks at its Selby terminal. Earnings per unit (EPU) for the fourth quarter of 2022 also included a $0.31 per unit premium related to the repurchase of a portion of the Series D preferred units. Ex
Sunoco LP (NYSE:SUN) ("Sunoco" or the "Partnership") and NuStar Energy L.P. (NYSE:NS) ("NuStar") announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt. Transaction Details Under the terms of the agreement, NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common unit, implying a 24% premium based on the 30-day VWAP's of both NuStar and Sunoco as of January 19, 2024. Sunoco has secured a $1.6 billion 364-day bridge term loan to refinance NuStar's Series A, B and C Preferred Units, Subordinated Notes, Revolving Cred
NuStar Energy L.P. (NYSE:NS) today announced that it will host a conference call on Thursday, February 15, 2024 at 9:00 a.m. Central Time to discuss the fourth quarter 2023 earnings results, which will be released earlier that day. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/ix273q3o. Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BIee1568b1e27845da9c4719be0beac3c5. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/ix
Redemption of Series D Preferred Units Completed Two Years Ahead of Original Schedule Pipeline Segment's Operating Income Up 14 Percent Quarter-Over-Quarter Fuels Marketing Segment Reports Another Near-Record Quarter NuStar Receives Credit Rating Upgrade Due to Strengthened Balance Sheet Positive Outlook for Remainder of 2023 NuStar Energy L.P. (NYSE:NS) today announced solid results for the third quarter of 2023 fueled by strong volumes in its refined products pipelines. "I am pleased to report that we have delivered another quarter of solid earnings results and made significant progress on all of our strategic initiatives this year," said NuStar Chairman and CEO Brad Barron.
NuStar Energy L.P. (NYSE:NS) today announced that its Board of Directors has declared a third quarter 2023 common unit distribution of $0.40 per unit. The third quarter common unit distribution will be paid on November 14, 2023 to holders of record as of November 7, 2023. NuStar Energy L.P.'s Board of Directors also declared a third quarter 2023 Series A preferred unit distribution of $0.77736 per unit, a Series B preferred unit distribution of $0.70717 per unit and a Series C preferred unit distribution of $0.78448 per unit. The preferred unit distributions will be paid on December 15, 2023 to holders of record as of December 1, 2023. A conference call with management is scheduled for
NuStar Energy L.P. (NYSE:NS) today announced that it will host a conference call on Thursday, November 2, 2023 at 9:00 a.m. Central Time to discuss the third quarter 2023 earnings results, which will be released earlier that day. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/3v3uhf8c. Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BI746f2c67e6c944c4a6e919ede872ff79. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/3v3u
Balance Sheet Continues to Strengthen with Repurchase of More Series D Preferred Units Pipeline Segment's Operating Income Up Seven Percent Quarter-Over-Quarter Fuels Marketing Segment Reports Another Strong Quarter West Coast Region's Revenues Up Approximately 30 Percent Quarter-Over-Quarter Positive Outlook for Remainder of 2023 NuStar Energy L.P. (NYSE:NS) today announced solid results for the second quarter of 2023 fueled by strong volumes in its refined products and Ammonia pipelines. "I am pleased to report that we have delivered another quarter of positive results, and we are on track to achieve all of our strategic priorities this year," said NuStar Chairman and CEO Brad
NuStar Energy L.P. (NYSE:NS) today announced that its Board of Directors has declared a second quarter 2023 common unit distribution of $0.40 per unit. The second quarter common unit distribution will be paid on August 14, 2023 to holders of record as of August 8, 2023. NuStar Energy L.P.'s Board of Directors also declared a second quarter 2023 Series A preferred unit distribution of $0.76715 per unit, a Series B preferred unit distribution of $0.69696 per unit and a Series C preferred unit distribution of $0.77428 per unit. The preferred unit distributions will be paid on September 15, 2023 to holders of record as of September 1, 2023. A conference call with management is scheduled for
NuStar Energy L.P. (NYSE:NS) today announced that it will host a conference call on Thursday, August 3, 2023 at 9:00 a.m. Central Time to discuss the second quarter 2023 earnings results, which will be released earlier that day. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/hu7hrnep. Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BI2ecc56df0e114ea58ced5740b23a1940. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/hu7hr
Net Income, EPU, EBITDA and DCF All Up Quarter-Over-Quarter as Operations Continue to Perform Well Pipeline Segment Operating Income Up 25 Percent West Coast Region's Revenues Up 33 Percent Compared to 1Q 2022 Balance Sheet Continues to Strengthen as Planned Redemption of Series D Preferred Units is Two Years Ahead of Schedule Positive Outlook for Remainder of 2023 Highlights New Ammonia Contract/Outlines Emerging Ammonia Market Opportunities NuStar Energy L.P. (NYSE:NS) today announced strong results for the first quarter of 2023 fueled by strong volumes in its refined products and crude oil pipelines. "I am pleased to report another strong quarter of financial results where
OVERLAND PARK, KS / ACCESSWIRE / May 3, 2024 / Tortoise today announced a revision to the corporate action treatment for the Tortoise North American Pipeline IndexSM (TNAP). As previously stated, NuStar Energy LP (NYSE:NS) will be removed from the Tortoise MLP Index® (TMLP) and the Tortoise North American Pipeline IndexSM (TNAP) as a result of the approved acquisition by Sunoco LP (NYSE:SUN). Due to the acquisition, NS will be removed from indices at market open on Friday, May 3, 2024.For the Tortoise MLP Index® (TMLP), NS will be removed with a special rebalancing.Special rebalancings in TMLP are triggered by corporate actions such as mergers, bankruptcies, liquidations, and conversions in
OVERLAND PARK, KS / ACCESSWIRE / May 2, 2024 / Tortoise today announced that NuStar Energy LP (NYSE:NS) will be removed from the Tortoise MLP Index® (TMLP) and the Tortoise North American Pipeline IndexSM (TNAP) as a result of the approved acquisition by Sunoco LP (NYSE:SUN). Due to the acquisition, NS will be removed from indices at market open on Friday, May 3, 2024.For the Tortoise MLP Index® (TMLP), NS will be removed with a special rebalancing.Special rebalancings in TMLP are triggered by corporate actions such as mergers, bankruptcies, liquidations, and conversions in which the resulting weight of a single constituent exceeds the index's 7.5% threshold and the target constituent weight
Sunoco LP (NYSE:SUN) ("Sunoco" or "SUN") and NuStar Energy L.P. (NYSE:NS) ("NuStar" or "NS") announced the approval by NuStar unitholders of the previously announced merger, pursuant to which NuStar will merge with and into a merger subsidiary of Sunoco. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501484326/en/ NuStar's Special Meeting was held at 9:00 a.m. Central Time on May 1, 2024. According to preliminary results of the Special Meeting, approximately 69% of the outstanding common units of NuStar voted in favor of the transaction. NuStar will disclose the final vote result of the Special Meeting on a Form 8-K filed wit
NuStar Energy L.P. (NYSE:NS) today announced that the board of directors of NuStar GP, LLC, the general partner of its general partner, has declared a special distribution of $0.212 per NuStar Energy L.P. common unit (the "special distribution"), to be paid on May 2, 2024 to holders of record of NuStar Energy L.P. common units as of April 26, 2024. Payment of the special distribution is subject to and conditioned upon holders of NuStar Energy L.P.'s common units approving its previously announced acquisition by Sunoco LP (NYSE:SUN) at NuStar Energy L.P.'s special meeting, which will be held at 9:00 a.m. Central Time on May 1, 2024, and the merger agreement with respect to the acquisition no
DALLAS, April 9, 2024 /PRNewswire/ -- Sunoco LP (NYSE:SUN) ("Sunoco" or "SUN") and NuStar Energy L.P. (NYSE:NS) ("NuStar" or "NS") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with Sunoco's pending acquisition of NuStar. The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction. A NuStar unitholder vote is scheduled for May 1, 2024 at 9:00 am Central Time. The details of the NuStar Special Meeting,
NuStar Energy L.P. (NYSE:NS) today announced that the 2023 tax packages for common units, which include the Schedule K-1's, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2023 tax packages the week of March 18, 2024. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (800) 310-6595 for common units, weekdays between 8 a.m. and 5 p.m. CT. The 2023 tax packages for preferred units, which include the Schedule K-1's for Series A, Series B and Series C preferred units, are also available online at www.nustarenergy.com in the Investors section of the website.
NuStar Energy L.P. (NYSE:NS) today announced that the 2023 tax packages for preferred units, which include the Schedule K-1's for Series A, Series B and Series C preferred units, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2023 tax packages on March 6, 2024. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (844) 364-7560 for Series A, Series B and Series C preferred units, weekdays between 8 a.m. and 5 p.m. CT. As discussed in the press release issued on February 23, 2024, NuStar currently expects that its 2023 tax packages for common units, includ
NuStar Energy L.P. (NYSE:NS) today provided an update on the expected availability of the Partnership's 2023 tax packages, which include the Schedule K-1 for common units. Historically, NuStar's tax packages have been available by the beginning of March for the preceding tax year; however, the timing of the availability of NuStar's 2023 tax packages is dependent upon actions of the U.S. Congress and the Biden administration with regard to the passage, or not, of the recently proposed H.R. 7024 legislation that includes changes in tax law which would be applied retroactively to the 2023 tax year. As currently written, certain provisions in H.R. 7024 would lower NuStar's taxable income for
NuStar Energy L.P. (NYSE:NS) today announced solid results for the fourth quarter and full-year 2023 fueled by strong revenues and volumes in its refined products pipelines and strong performance in its Fuels Marketing Segment. NuStar reported net income of $70 million for the fourth quarter of 2023, or $0.37 per unit, compared to net income of $92 million, or $0.18 per unit, for the fourth quarter of 2022. Results for the fourth quarter of 2022 include a gain from insurance proceeds to rebuild tanks at its Selby terminal. Earnings per unit (EPU) for the fourth quarter of 2022 also included a $0.31 per unit premium related to the repurchase of a portion of the Series D preferred units. Ex
NuStar Energy L.P. (NYSE:NS) today announced that its Board of Directors has declared a fourth quarter 2023 common unit distribution of $0.40 per unit. The fourth quarter common unit distribution will be paid on February 13, 2024 to holders of record as of February 7, 2024. NuStar Energy L.P.'s Board of Directors also declared a fourth quarter 2023 Series A preferred unit distribution of $0.77533 per unit, a Series B preferred unit distribution of $0.70515 per unit and a Series C preferred unit distribution of $0.78246 per unit. The preferred unit distributions will be paid on March 15, 2024 to holders of record as of March 1, 2024. NuStar Energy L.P., through its subsidiaries (collecti
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Sunoco LP (NYSE:SUN) ("Sunoco" or "SUN") and NuStar Energy L.P. (NYSE:NS) ("NuStar" or "NS") announced the approval by NuStar unitholders of the previously announced merger, pursuant to which NuStar will merge with and into a merger subsidiary of Sunoco.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501484326/en/NuStar's Special Meeting was held at 9:00 a.m. Central Time on May 1, 2024. According to preliminary results of the Special Meeting, approximately 69% of the outstanding common units of NuStar voted in favor of the transaction. NuStar will disclose the final vote result of the Special Meeting on a Form 8-K filed with th
The special distribution will be paid on May 2, 2024 to holders of record of NuStar Energy L.P. common units as of April 26, 2024. Payment of the special distribution is subject to and conditioned upon holders of NuStar Energy L.P.'s common units approving its previously announced acquisition by Sunoco LP (NYSE: SUN) at NuStar Energy L.P.'s special meeting, which will be held at 9:00 a.m. Central Time on May 1, 2024, and the merger agreement with respect to the acquisition not having been terminated.
The expiry is in connection with Sunoco's pending acquisition of NuStar. The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction.
Raymond James analyst Justin Jenkins downgrades NuStar Energy (NYSE:NS) from Outperform to Market Perform.
Positive Outlook for 2024 Although the pending merger with Sunoco LP is expected to close as early as the second quarter of 2024, we want to provide our 2024 financial expectations for NuStar on a stand-alone basis. We expect to generate full-year 2024 net income in the range of $220 to $260 million and full-year 2024 EBITDA in the range of $720 to $780 million. NuStar once again expects to self-fund all of its operational expenses, growth capital and distributions, and continues to target a healthy year-end debt-to-EBITDA ratio below four times.
NuStar Energy (NYSE:NS) reported quarterly earnings of $0.37 per share which beat the analyst consensus estimate of $0.27 by 37.04 percent. This is a 8.82 percent increase over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $451.69 million which beat the analyst consensus estimate of $433.69 million by 4.15 percent. This is a 5.05 percent increase over sales of $429.96 million the same period last year.
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NuStar Energy (NYSE:NS) is set to give its latest quarterly earnings report on Thursday, 2024-02-15. Here's what investors need to know before the announcement. Analysts estimate that NuStar Energy will report an earnings per share (EPS) of $0.27. NuStar Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company missed EPS by $0.07, which was followed by a 0.5% drop in the share pri
On February 13, 2024, NuStar Energy (NYSE:NS) will distribute a dividend payout of $0.40 per share, equating to an annualized dividend yield of 7.66%. Shareholders who owned the stock before the ex-dividend date on February 06, 2024 will receive this payout. NuStar Energy Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left; } tr:nth-child(even) {
Monday marks the last chance for investors to receive the next dividend payout from NuStar Energy (NYSE:NS). What's Happening The company announced on Thursday that it would pay shareholders a quarterly dividend of 40 cents per share. On Tuesday, NuStar Energy will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 40 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own NS as of the end of Monday's session are eligible to receive the 40 cents dividend payout fo