NuStar Energy Stock (NYSE:NS), Trade Ideas

NuStar Energy

NuStar Energy LP is a us-based pipeline and terminal operator. The company along with its subsidiaries is engaged in the transportation of petroleum products and anhydrous ammonia; the terminalling and storage of crude oil and specialty chemicals, and the marketing of petroleum products. Its business is organized into the segments of; Pipeline, Storage, and Fuels Marketing. Geographically, the company operates in the United States and Foreign and derives key revenue from the Pipeline business.

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NuStar Energy LP

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The&nbsp;special distribution will&nbsp;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.&#39;s common units approving its previously announced acquisition by Sunoco LP (NYSE:&nbsp;SUN) at NuStar Energy L.P.&#39;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.

Dividends

NuStar Energy Declares Conditional Special Distribution Of $0.212 Per Unit

The expiry is in connection with Sunoco&#39;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.

Sunoco And NuStar Energy Announce Expiration Of Hart-Scott-Rodino Act Waiting Period

Raymond James analyst Justin Jenkins downgrades NuStar Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NS#NYSE">NS</a>) from Outperform to Market Perform.

Downgrades

Raymond James Downgrades NuStar Energy 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.

Guidance

NuStar Energy FY24 Outlook: Net Income $220M-$260M, EBITDA $720M-$780M

NuStar Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NS#NYSE">NS</a>) 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.