Wed, Apr. 22, 9:12 AM
Tue, Apr. 21, 5:30 PM
Mon, Feb. 2, 2:26 PM
- NuStar Energy (NS +0.9%) and NuStar GP Holdings (NSH +1.1%) again are moving higher even as Credit Suisse downgrades both to Neutral from Outperform, after the stocks have jumped a respective 9% and 12% in recent days.
- The firm forecasts NS resuming distribution growth in Q1 2016 when coverage is expected to hover north of 1.1x, but favors moving to the sidelines after the recent run-up in favor of MLPs with faster distribution growth and longer-term visible growth relative to the sector amid the current cycle of weak commodity prices.
- On Friday, NS said its revenue dropped 13% in Q4 as increased volume from an expansion of the South Texas Crude Pipeline was unable to offset higher operating and general expenses, but earnings beat estimates due mostly to the pipeline and a recent acquisition.
Fri, Jan. 30, 8:56 AM
Thu, Jan. 29, 5:30 PM
Tue, Jan. 27, 12:24 PM
- Analysts say Energy Transfer Partners (ETP -1.4%) $11B deal to consolidate its Regency Energy Partners (NYSE:RGP) unit under one roof could be a harbinger of more M&A action to come for energy companies whose balance sheets are being strained by cheap crude oil prices.
- Pipelines, processing units and storage tanks have retained their value better than drilling acreage and equipment, prompting some producers to put their pipes up for sale to raise cash needed to prop up drilling operations and resulting in plenty of buying opportunities for companies seeking to expand their reach or fill in blank spots in their networks.
- Buckeye Partners (NYSE:BPL), NuStar Energy (NYSE:NS) and World Point Terminals (NYSE:WPT) are considered attractive candidates for large pipeline owners able to do deals now, some analysts say, because almost all of their cash flow comes from contracted fees that do not change with commodity prices.
Fri, Jan. 9, 12:55 PM
- NuStar Energy (NS -0.1%) says it has acquired full ownership of a refined products terminal in Linden, N.J., at the New York Harbor for $142.5M; the terminal was previously operated as a 50-50 joint venture with Linden Holding Corp.
- NS expects the acquisition to be immediately accretive to 2015 earnings.
- The Linden terminal has 4.3M barrels of refined products storage capacity, primarily storing gasoline, jet fuel and fuel oils.
Oct. 31, 2014, 8:54 AM
Oct. 30, 2014, 5:30 PM
Oct. 15, 2014, 10:29 AM
- NuStar Energy (NS +4.6%) and Mexico's state-run Pemex sign a letter of intent to form a joint venture to develop pipeline infrastructure to transport liquefied petroleum gases and refined products from the U.S. into Mexico.
- Under the proposed JV, the companies will jointly fund construction of new pipeline and storage assets, and NS would manage construction and operation of the assets.
- LPGs and refined products will be delivered from Mont Belvieu and Corpus Christi in Texas to Nuevo Laredo and Burgos-Reynosa in Mexico.
Sep. 23, 2014, 12:37 PM
- The MLP analyst team at UBS expects the healthy M&A atmosphere in the sector to continue, and lists four MLPs it thinks could be in the running to be acquired.
- The group is headlined by NuStar Energy (NYSE:NS), which is flirting with 52-week highs; NS is among those building docks, storage tanks and other facilities at the Corpus Christi port, which shipped out 350K bbl/day of crude last year vs. fewer than 10K at the start of 2012.
- UBS' three other MLP acquisition contenders are CMLP, NGL and SEMG.
Jul. 25, 2014, 8:54 AM
Jul. 24, 2014, 5:30 PM
Apr. 24, 2014, 2:59 PM
- NuStar Energy (NS +1.2%) is upgraded to Buy from Hold with a $62 price target at Stifel after NS posted its strongest Q1 results in the last five years, in part due to the discontinuation of its asphalt business as well as stronger results in its fuels marketing segment.
- While the balance sheet remains leveraged at 4.4x debt to EBITDA, the firm believes the improving unit price offers management an opportunity to de-leverage its balance sheet at some point.
- Coverage for the quarter was 0.91x, and management reiterated its 2014 goal of returning to 1.0x coverage ratio.
Apr. 23, 2014, 10:16 AM
- NuStar Energy (NS +0.9%) reports a mixed Q1 earnings picture but says Q1 distributable cash flow from continuing operations available to limited partners was $1/unit, vs. $0.73/unit DCF in the year-ago quarter; EBITDA from continuing operations was $126.7M vs. $94.1M a year ago.
- Expects Q2 EPU and EBITDA results and coverage ratio to exceed year-ago results; sees higher EBITDA in its pipeline and fuels marketing segments due to increased pipeline throughputs and improved results in bunkering operations.
- Backs FY 2014 pipeline segment EBITDA $40M-$60M higher than 2013, and expects to start covering distributions in H2 and for FY 2014.
Apr. 23, 2014, 9:22 AM
NS vs. ETF Alternatives
NuStar Energy, L.P., is engaged in refining, marketing and operating petroleum product terminals and petroleum liquids pipelines. It manages its operations through the three operating segments: storage, pipeline and fuels marketing.
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