NEW YORK (TheStreet) -- Shares of NuStar Energy (NS) are up 1.33% to $57.71 following a ratings upgrade to "buy" from "hold" at Stifel Financial Corp. (SF) due to the company's strong first quarter 2014 results.
The firm said the company, which is engaged in the terminalling and storage of petroleum products, has seen its strongest first quarter results since 2009.
NuStar Energy reported distributable cash flow from continuing operations available to limited partners of $77.9 million, or $1.00 per unit, compared to the same quarter in 2013, when it reported $57.1 million, or $0.73 per unit.
The company also said its first quarter earnings before interest, taxes, depreciation and amortization is $126.7 million compared to $94.1 million reported in first quarter 2013.
NuStar announced a net income for the first quarter 2014 of $28.1 million, or $0.36 per unit versus the $13.3 million, or $0.17 per unit it reported during the same quarter in 2013.
TheStreet Ratings team rates NUSTAR ENERGY LP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NUSTAR ENERGY LP (NS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."