Holly Energy Partners (NYSE:HEP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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 equities research analysts also recently weighed in on HEP. Scotiabank reaffirmed a “hold” rating and set a $33.00 price target on shares of Holly Energy Partners in a report on Monday, August 20th. JPMorgan Chase & Co. decreased their price target on Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a report on Friday, August 24th. ValuEngine downgraded Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Credit Suisse Group initiated coverage on Holly Energy Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $33.00 price target for the company. Finally, Barclays downgraded Holly Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $30.00 to $28.00 in a report on Tuesday, September 25th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.75.
HEP stock opened at $28.62 on Friday. The company has a market capitalization of $3.11 billion, a PE ratio of 16.26 and a beta of 0.91. Holly Energy Partners has a twelve month low of $26.08 and a twelve month high of $34.62. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.12 and a quick ratio of 1.12.
Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $125.80 million during the quarter, compared to the consensus estimate of $125.79 million. Holly Energy Partners had a return on equity of 33.38% and a net margin of 43.25%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. On average, sell-side analysts predict that Holly Energy Partners will post 1.71 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in shares of Holly Energy Partners by 44.4% during the third quarter. Wells Fargo & Company MN now owns 48,601 shares of the pipeline company’s stock worth $1,529,000 after purchasing an additional 14,946 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Holly Energy Partners during the third quarter worth $238,000. Russell Investments Group Ltd. acquired a new stake in shares of Holly Energy Partners during the third quarter worth $286,000. Alps Advisors Inc. lifted its holdings in shares of Holly Energy Partners by 6.5% during the third quarter. Alps Advisors Inc. now owns 4,050,234 shares of the pipeline company’s stock worth $127,420,000 after purchasing an additional 247,016 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Holly Energy Partners by 2.6% during the third quarter. First Trust Advisors LP now owns 245,744 shares of the pipeline company’s stock worth $7,731,000 after purchasing an additional 6,168 shares during the period. 31.27% of the stock is owned by hedge funds and other institutional investors.
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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