ValuEngine Lowers Holly Energy Partners (NYSE:HEP) to Sell

ValuEngine lowered shares of Holly Energy Partners (NYSE:HEP) from a hold rating to a sell rating in a report issued on Thursday morning, ValuEngine reports.

A number of other analysts have also weighed in on HEP. Zacks Investment Research raised shares of Holly Energy Partners from a hold rating to a buy rating and set a $32.00 price target for the company in a research note on Friday, July 19th. Raymond James lowered shares of Holly Energy Partners from a market perform rating to an underperform rating and set a $26.86 target price for the company. in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $30.48.

Shares of NYSE:HEP traded down $0.66 during trading on Thursday, reaching $27.26. The company had a trading volume of 6,569 shares, compared to its average volume of 190,885. The business’s fifty day moving average is $28.20. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 15.11 and a beta of 0.73. Holly Energy Partners has a twelve month low of $26.33 and a twelve month high of $34.00. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.49 and a quick ratio of 1.49.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $130.80 million during the quarter, compared to analyst estimates of $128.07 million. Holly Energy Partners had a net margin of 36.16% and a return on equity of 36.65%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. On average, research analysts forecast that Holly Energy Partners will post 1.85 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Monday, July 29th will be given a $0.6725 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $2.69 annualized dividend and a dividend yield of 9.87%. Holly Energy Partners’s dividend payout ratio (DPR) is presently 158.24%.

Institutional investors have recently added to or reduced their stakes in the business. Bollard Group LLC increased its stake in Holly Energy Partners by 8.8% in the 1st quarter. Bollard Group LLC now owns 276,623 shares of the pipeline company’s stock valued at $7,466,000 after buying an additional 22,428 shares during the period. Moors & Cabot Inc. acquired a new position in Holly Energy Partners in the 1st quarter valued at approximately $248,000. Groesbeck Investment Management Corp NJ increased its stake in Holly Energy Partners by 9.7% in the 1st quarter. Groesbeck Investment Management Corp NJ now owns 129,240 shares of the pipeline company’s stock valued at $3,488,000 after buying an additional 11,393 shares during the period. California Public Employees Retirement System increased its stake in Holly Energy Partners by 7.1% in the 1st quarter. California Public Employees Retirement System now owns 70,910 shares of the pipeline company’s stock valued at $1,914,000 after buying an additional 4,700 shares during the period. Finally, Dividend Assets Capital LLC increased its stake in Holly Energy Partners by 360.6% in the 2nd quarter. Dividend Assets Capital LLC now owns 121,171 shares of the pipeline company’s stock valued at $3,332,000 after buying an additional 94,861 shares during the period. Hedge funds and other institutional investors own 31.31% of the company’s stock.

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.

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