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NuStar Energy L.P. (NS) Stock Jumps 18.3%: Will It Continue to Soar?
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NuStar Energy L.P. (NS - Free Report) shares ended the last trading session 18.3% higher at $21.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.5% loss over the past four weeks.
NuStar Energy L.P. shares rose last intra-day following the announcement of its acquisition by Sunoco LP in an all-equity transaction valued at $7.3 billion, including assumed debt. Under the terms of the agreement, NuStar common unitholders will receive 0.4 Sunoco units for every common unit they own. This exchange ratio represents a 24% premium based on the 30-day Volume Weighted Average Prices of both partnerships as of Jan 19, and a 31% premium over NuStar's most recent closing price. The boards of both partnerships have approved the acquisition. They expect to achieve at least $150 million in run-rate synergies by the third year after following the deal's closure.
This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -20.6%. Revenues are expected to be $362.28 million, down 15.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NuStar Energy L.P., the consensus EPS estimate for the quarter has been revised 9.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NS going forward to see if this recent jump can turn into more strength down the road.
NuStar Energy L.P. belongs to the Zacks Oil and Gas - Production Pipeline - MLB industry. Another stock from the same industry, Oneok Inc. (OKE - Free Report) , closed the last trading session 0.9% lower at $69.38. Over the past month, OKE has returned -0.2%.
Oneok's consensus EPS estimate for the upcoming report has changed +8.3% over the past month to $1.16. Compared to the company's year-ago EPS, this represents a change of +7.4%. Oneok currently boasts a Zacks Rank of #3 (Hold).
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NuStar Energy L.P. (NS) Stock Jumps 18.3%: Will It Continue to Soar?
NuStar Energy L.P. (NS - Free Report) shares ended the last trading session 18.3% higher at $21.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.5% loss over the past four weeks.
NuStar Energy L.P. shares rose last intra-day following the announcement of its acquisition by Sunoco LP in an all-equity transaction valued at $7.3 billion, including assumed debt. Under the terms of the agreement, NuStar common unitholders will receive 0.4 Sunoco units for every common unit they own. This exchange ratio represents a 24% premium based on the 30-day Volume Weighted Average Prices of both partnerships as of Jan 19, and a 31% premium over NuStar's most recent closing price. The boards of both partnerships have approved the acquisition. They expect to achieve at least $150 million in run-rate synergies by the third year after following the deal's closure.
This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -20.6%. Revenues are expected to be $362.28 million, down 15.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NuStar Energy L.P., the consensus EPS estimate for the quarter has been revised 9.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
NuStar Energy L.P. belongs to the Zacks Oil and Gas - Production Pipeline - MLB industry. Another stock from the same industry, Oneok Inc. (OKE - Free Report) , closed the last trading session 0.9% lower at $69.38. Over the past month, OKE has returned -0.2%.
Oneok's consensus EPS estimate for the upcoming report has changed +8.3% over the past month to $1.16. Compared to the company's year-ago EPS, this represents a change of +7.4%. Oneok currently boasts a Zacks Rank of #3 (Hold).