Wall Street analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to post $0.45 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Holly Energy Partners’ earnings, with estimates ranging from $0.42 to $0.47. Holly Energy Partners reported earnings per share of $0.56 in the same quarter last year, which indicates a negative year over year growth rate of 19.6%. The company is scheduled to report its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Holly Energy Partners will report full year earnings of $1.70 per share for the current year, with EPS estimates ranging from $1.66 to $1.71. For the next financial year, analysts forecast that the company will post earnings of $1.82 per share, with EPS estimates ranging from $1.80 to $1.85. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Holly Energy Partners.
Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Holly Energy Partners had a net margin of 43.25% and a return on equity of 33.48%. The firm had revenue of $125.80 million during the quarter, compared to analyst estimates of $125.79 million. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was up 13.9% on a year-over-year basis.
HEP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. ValuEngine raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a research note on Friday, August 24th. Scotiabank reaffirmed a “hold” rating on shares of Holly Energy Partners in a research note on Tuesday, November 20th. Finally, Credit Suisse Group began coverage on shares of Holly Energy Partners in a research note on Thursday, October 11th. They set a “neutral” rating and a $33.00 target price for the company. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Holly Energy Partners presently has an average rating of “Hold” and an average price target of $30.75.
In related news, Director Michael Jennings sold 5,000 shares of Holly Energy Partners stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the director now owns 18,877 shares in the company, valued at approximately $544,035.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Oak Wealth Management Inc. raised its holdings in Holly Energy Partners by 80.6% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 5,600 shares of the pipeline company’s stock worth $176,000 after acquiring an additional 2,500 shares during the period. First Republic Investment Management Inc. increased its holdings in shares of Holly Energy Partners by 5.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 78,448 shares of the pipeline company’s stock worth $2,468,000 after purchasing an additional 3,753 shares during the period. Bank of Montreal Can bought a new position in shares of Holly Energy Partners during the 3rd quarter worth about $122,000. Global X Management Co LLC increased its holdings in shares of Holly Energy Partners by 15.3% during the 2nd quarter. Global X Management Co LLC now owns 32,923 shares of the pipeline company’s stock worth $930,000 after purchasing an additional 4,363 shares during the period. Finally, Groesbeck Investment Management Corp NJ increased its holdings in shares of Holly Energy Partners by 3.5% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 128,329 shares of the pipeline company’s stock worth $3,627,000 after purchasing an additional 4,363 shares during the period. Hedge funds and other institutional investors own 32.16% of the company’s stock.
Holly Energy Partners stock traded up $0.03 during midday trading on Monday, reaching $28.45. The stock had a trading volume of 387,286 shares, compared to its average volume of 127,061. 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 2.64, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 16.16 and a beta of 0.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 9.35%. The ex-dividend date was Friday, October 26th. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.66. Holly Energy Partners’s dividend payout ratio (DPR) is 151.14%.
Holly Energy Partners Company Profile
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.
Further Reading: What are different types of coverage ratios?
Get a free copy of the Zacks research report on Holly Energy Partners (HEP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Holly Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.