Holly Energy Partners (NYSE:HEP) Price Target Cut to $22.00

Holly Energy Partners (NYSE:HEP) had its target price decreased by analysts at UBS Group from $28.00 to $22.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. UBS Group’s price objective would indicate a potential downside of 4.89% from the company’s current price.

A number of other brokerages also recently issued reports on HEP. Credit Suisse Group downgraded shares of Holly Energy Partners from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $31.00 to $24.00 in a report on Monday, August 19th. ValuEngine upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet downgraded shares of Holly Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, October 11th. Raymond James downgraded shares of Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 price target for the company. in a report on Wednesday, June 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Holly Energy Partners from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Holly Energy Partners currently has a consensus rating of “Hold” and an average price target of $24.77.

HEP traded up $1.87 during trading on Thursday, reaching $23.13. The company’s stock had a trading volume of 1,027,039 shares, compared to its average volume of 686,947. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.17. The firm has a fifty day simple moving average of $25.14 and a two-hundred day simple moving average of $27.03. Holly Energy Partners has a 1 year low of $20.81 and a 1 year high of $31.63. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 11.53 and a beta of 0.72.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $130.80 million during the quarter, compared to the consensus estimate of $128.07 million. Holly Energy Partners had a net margin of 36.16% and a return on equity of 37.40%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. As a group, equities analysts forecast that Holly Energy Partners will post 1.84 EPS for the current fiscal year.

In other news, Director Eric L. Mattson sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.55, for a total transaction of $55,100.00. Following the completion of the sale, the director now owns 4,198 shares in the company, valued at approximately $115,654.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Pettinga Financial Advisors LLC increased its holdings in Holly Energy Partners by 5.3% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,900 shares of the pipeline company’s stock valued at $217,000 after purchasing an additional 400 shares during the last quarter. Cadence Capital Management LLC increased its holdings in Holly Energy Partners by 0.4% in the 2nd quarter. Cadence Capital Management LLC now owns 145,141 shares of the pipeline company’s stock valued at $3,991,000 after purchasing an additional 576 shares during the last quarter. Private Advisor Group LLC increased its holdings in Holly Energy Partners by 7.6% in the 2nd quarter. Private Advisor Group LLC now owns 9,446 shares of the pipeline company’s stock valued at $260,000 after purchasing an additional 667 shares during the last quarter. Infrastructure Capital Advisors LLC increased its holdings in Holly Energy Partners by 5.8% in the 2nd quarter. Infrastructure Capital Advisors LLC now owns 12,934 shares of the pipeline company’s stock valued at $359,000 after purchasing an additional 712 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Holly Energy Partners by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 26,735 shares of the pipeline company’s stock valued at $735,000 after purchasing an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 30.86% of the company’s stock.

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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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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