Barclays Maintains an 'Equalweight' on NuStar Energy (NS); Analyst Day Takeaways
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Price: $21.96 --0%
Rating Summary:
3 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on NuStar Energy L.P. (NYSE: NS) price target of $66.00.
Barclays analyst says, "Storage and transportation segment growth should more than offset asphalt weakness in 2012, in our view. At the NS analyst day on 9/21 in New Orleans, the key takeaway was that 2012 distribution growth should improve modestly from 2011 level of 1.9% (we forecast 3.0% in 2012) due to 2011 organic growth capex in storage, transportation and acquisitions more than offsetting likely flat/lower asphalt results, in our view. We are trimming our 3Q/2011 EBITDA estimates from $116/$488mm to $110/$476mm to reflect lower expected asphalt results. Our 2011 distribution estimate remains unchanged at $4.36 per unit, as we model in slightly lower coverage of 1.01x."
For more ratings news on NuStar Energy L.P. click here and for the rating history of NuStar Energy L.P. click here.
Shares of NuStar Energy L.P. closed at $54.60 yesterday.
Barclays analyst says, "Storage and transportation segment growth should more than offset asphalt weakness in 2012, in our view. At the NS analyst day on 9/21 in New Orleans, the key takeaway was that 2012 distribution growth should improve modestly from 2011 level of 1.9% (we forecast 3.0% in 2012) due to 2011 organic growth capex in storage, transportation and acquisitions more than offsetting likely flat/lower asphalt results, in our view. We are trimming our 3Q/2011 EBITDA estimates from $116/$488mm to $110/$476mm to reflect lower expected asphalt results. Our 2011 distribution estimate remains unchanged at $4.36 per unit, as we model in slightly lower coverage of 1.01x."
For more ratings news on NuStar Energy L.P. click here and for the rating history of NuStar Energy L.P. click here.
Shares of NuStar Energy L.P. closed at $54.60 yesterday.
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