Goldman Sachs Group Downgrades Holly Energy Partners (NYSE:HEP) to Sell

Goldman Sachs Group cut shares of Holly Energy Partners (NYSE:HEP) from a neutral rating to a sell rating in a report issued on Monday, December 18th, MarketBeat Ratings reports. The brokerage currently has $30.00 target price on the pipeline company’s stock.

HEP has been the subject of a number of other research reports. BidaskClub cut Holly Energy Partners from a sell rating to a strong sell rating in a research report on Wednesday, August 23rd. UBS Group reduced their price target on Holly Energy Partners from $39.00 to $36.00 and set a buy rating for the company in a research report on Tuesday, October 17th. Scotiabank set a $34.00 price target on Holly Energy Partners and gave the stock a hold rating in a research report on Friday, October 20th. Zacks Investment Research upgraded Holly Energy Partners from a sell rating to a hold rating in a research report on Monday, October 23rd. Finally, Barclays restated an equal weight rating and issued a $35.00 price target on shares of Holly Energy Partners in a research report on Friday, November 10th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $33.88.

Shares of Holly Energy Partners (HEP) traded up $0.30 during trading hours on Monday, hitting $32.67. The stock had a trading volume of 196,198 shares, compared to its average volume of 183,118. Holly Energy Partners has a 1 year low of $30.11 and a 1 year high of $38.09. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $2,100.00, a P/E ratio of 21.21, a P/E/G ratio of 8.46 and a beta of 0.88.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.20. Holly Energy Partners had a return on equity of 34.29% and a net margin of 34.35%. The company had revenue of $110.40 million for the quarter, compared to the consensus estimate of $113.01 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. Holly Energy Partners’s revenue was up 19.2% on a year-over-year basis. sell-side analysts expect that Holly Energy Partners will post 1.58 EPS for the current year.

In related news, Director Michael Jennings sold 4,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $32.51, for a total transaction of $130,040.00. Following the completion of the sale, the director now owns 22,978 shares in the company, valued at $747,014.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. purchased a new position in Holly Energy Partners during the 3rd quarter valued at approximately $112,122,000. Harvest Fund Advisors LLC grew its holdings in Holly Energy Partners by 0.5% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,304,777 shares of the pipeline company’s stock valued at $43,580,000 after buying an additional 6,961 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Holly Energy Partners by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock valued at $26,778,000 after buying an additional 146,385 shares in the last quarter. Bollard Group LLC grew its holdings in Holly Energy Partners by 1.7% during the 3rd quarter. Bollard Group LLC now owns 216,512 shares of the pipeline company’s stock valued at $7,232,000 after buying an additional 3,650 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Holly Energy Partners by 23.6% during the 2nd quarter. Citigroup Inc. now owns 200,741 shares of the pipeline company’s stock valued at $6,520,000 after buying an additional 38,381 shares in the last quarter. Institutional investors and hedge funds own 48.60% of the company’s stock.

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Holly Energy Partners Company Profile

Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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