Research analysts at Credit Suisse Group began coverage on shares of Holly Energy Partners (NYSE:HEP) in a report issued on Thursday, MarketBeat reports. The firm set a “neutral” rating and a $33.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 7.39% from the company’s previous close.
A number of other equities analysts also recently weighed in on HEP. ValuEngine raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Barclays downgraded shares of Holly Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, September 25th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.11.
NYSE:HEP traded down $0.37 during trading hours on Thursday, hitting $30.73. 242,857 shares of the stock traded hands, compared to its average volume of 184,838. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.50. Holly Energy Partners has a fifty-two week low of $26.08 and a fifty-two week high of $35.84. The company has a market cap of $3.32 billion, a P/E ratio of 17.46 and a beta of 0.91.
Holly Energy Partners (NYSE:HEP) last announced its earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. The firm had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. During the same period last year, the firm earned $0.36 earnings per share. Holly Energy Partners’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Holly Energy Partners will post 1.73 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in shares of Holly Energy Partners in the third quarter worth $122,000. Cambridge Investment Research Advisors Inc. bought a new stake in Holly Energy Partners in the second quarter worth $230,000. Virtu Financial LLC bought a new stake in Holly Energy Partners in the second quarter worth $250,000. Truvestments Capital LLC bought a new stake in Holly Energy Partners in the second quarter worth $345,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Holly Energy Partners by 40.7% in the first quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock worth $667,000 after purchasing an additional 6,996 shares in the last quarter. 31.27% of the stock is currently owned by institutional investors and hedge funds.
About Holly Energy Partners
Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units that support the refining and marketing operations of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.
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