Northern Tier Energy LP (NYSE:NTI) up 2.1% Last Week


Dallas, Texas 10/28/2013 (Financialstrend) – On October 21, the $2.12 billion market capitalized Northern Tier Energy LP (NYSE:NTI) had announced that it has successfully completed the repair work at its St Paul Park refinery.  On the back of this positive news that stock posted a 1.4% increase in its valuation in comparison to previous day close. The issue had cropped up when a debilitating fire had engulfed part of the refinery at its “St. Paul Park oil refinery.” Post the repair and reconstruction effort both the impacted towers are back into operations. The repaired facility has been reported to be pumping up 85000 to 90,000 barrels of oil per day since October 14 when the fire incident was put under control. Post the repair work, the full extent of the operations is expected to commence from October 31.

In the past 10 days the oil refineries are trading high on the back of unsubstantiated news that the environmental protection agency is all set to relax the quantity of bio fuel that is required to be blended into the auto fuel. The EPA has been implementing this policy which requires fossil fuel based oil companies to add a proportional quantity of ethanol produced by using agricultural products. The news that the environmental agency is thinking of pegging back the ceiling due the lack of sustainability of having more ethanol being produced by consuming food and pulses which are required by humans as food integrants.

When the news built up some steam on October 16, the stock of NTI posted a solid 2% increase in value over its previous close. As of close of business on October 25, the stock was trading at $23.09 per share. In the week post the ceiling on ethanol, the stock of this oil refinery posted a 2.17% increase. The analyst PT on the stock is $25.4.

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