Zacks Investment Research lowered shares of Holly Energy Partners (NYSE:HEP) from a strong-buy rating to a hold rating in a report released on Wednesday, January 3rd.
According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “
Several other research analysts have also recently weighed in on the stock. Goldman Sachs Group cut shares of Holly Energy Partners from a neutral rating to a sell rating and set a $30.00 price target for the company. in a report on Monday, December 18th. Scotiabank set a $34.00 price target on shares of Holly Energy Partners and gave the company a hold rating in a report on Saturday, December 9th. Barclays reiterated an equal weight rating and issued a $35.00 price target on shares of Holly Energy Partners in a report on Friday, November 10th. UBS Group cut shares of Holly Energy Partners from a buy rating to a neutral rating and set a $36.00 price target for the company. in a report on Friday, November 3rd. Finally, Wells Fargo & Co reduced their price target on shares of Holly Energy Partners from $35.00 to $34.00 and set a market perform rating for the company in a report on Friday, October 20th. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $33.88.
Shares of Holly Energy Partners (HEP) traded down $0.01 during midday trading on Wednesday, reaching $32.66. 309,740 shares of the company were exchanged, compared to its average volume of 162,685. The firm has a market capitalization of $2,101.30, a PE ratio of 21.07, a P/E/G ratio of 8.27 and a beta of 0.88. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.10 and a current ratio of 1.10. Holly Energy Partners has a 52-week low of $30.11 and a 52-week high of $38.09.
Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $113.01 million. Holly Energy Partners had a net margin of 34.35% and a return on equity of 34.29%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. analysts forecast that Holly Energy Partners will post 1.58 EPS for the current year.
In other news, Director Michael Jennings sold 4,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $32.51, for a total value of $130,040.00. Following the sale, the director now owns 22,978 shares of the company’s stock, valued at $747,014.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its position in shares of Holly Energy Partners by 229.4% in the third quarter. Neuberger Berman Group LLC now owns 26,817 shares of the pipeline company’s stock worth $896,000 after purchasing an additional 18,677 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Holly Energy Partners by 4.5% in the third quarter. California Public Employees Retirement System now owns 77,988 shares of the pipeline company’s stock worth $2,605,000 after purchasing an additional 3,388 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Holly Energy Partners in the third quarter worth $242,000. Richard C. Young & CO. LTD. lifted its position in shares of Holly Energy Partners by 5.3% in the third quarter. Richard C. Young & CO. LTD. now owns 65,810 shares of the pipeline company’s stock worth $2,198,000 after purchasing an additional 3,341 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Holly Energy Partners by 23.0% in the third quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock worth $26,778,000 after purchasing an additional 146,385 shares in the last quarter. 48.60% of the stock is currently owned by institutional investors and hedge funds.
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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.
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