Equities research analysts predict that Holly Energy Partners, L.P. (NYSE:HEP) will announce earnings per share (EPS) of $0.47 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Holly Energy Partners’ earnings. The lowest EPS estimate is $0.46 and the highest is $0.48. Holly Energy Partners posted earnings per share of $0.45 during the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The firm is expected to issue its next earnings results on Tuesday, February 18th.
According to Zacks, analysts expect that Holly Energy Partners will report full-year earnings of $2.17 per share for the current fiscal year. For the next year, analysts anticipate that the firm will report earnings of $1.75 per share, with EPS estimates ranging from $1.73 to $1.79. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Holly Energy Partners.
Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings data on Wednesday, October 30th. The pipeline company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Holly Energy Partners had a net margin of 42.47% and a return on equity of 40.22%. The company had revenue of $135.90 million for the quarter, compared to analyst estimates of $129.88 million. During the same period in the previous year, the business posted $0.43 earnings per share. Holly Energy Partners’s quarterly revenue was up 8.0% on a year-over-year basis.
Several analysts have commented on HEP shares. ValuEngine raised Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group lowered Holly Energy Partners from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $31.00 to $24.00 in a report on Monday, August 19th. Zacks Investment Research downgraded Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Barclays set a $23.00 price target on shares of Holly Energy Partners and gave the stock a “sell” rating in a report on Tuesday, October 15th. Finally, TheStreet lowered Holly Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, October 11th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has a consensus rating of “Sell” and a consensus target price of $24.77.
Several hedge funds and other institutional investors have recently modified their holdings of HEP. Invesco Ltd. purchased a new position in shares of Holly Energy Partners during the 2nd quarter worth approximately $167,852,000. Morgan Stanley boosted its stake in shares of Holly Energy Partners by 74.6% in the second quarter. Morgan Stanley now owns 338,398 shares of the pipeline company’s stock valued at $9,307,000 after purchasing an additional 144,548 shares during the period. Tiedemann Advisors LLC grew its holdings in Holly Energy Partners by 22.4% during the 3rd quarter. Tiedemann Advisors LLC now owns 535,976 shares of the pipeline company’s stock valued at $13,545,000 after purchasing an additional 98,133 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Holly Energy Partners during the 3rd quarter valued at $2,236,000. Finally, First Trust Advisors LP increased its stake in Holly Energy Partners by 42.2% during the 2nd quarter. First Trust Advisors LP now owns 225,975 shares of the pipeline company’s stock worth $6,214,000 after buying an additional 67,071 shares during the period. Institutional investors own 31.44% of the company’s stock.
Shares of NYSE HEP traded up $0.02 during midday trading on Wednesday, reaching $22.15. 26,678 shares of the company were exchanged, compared to its average volume of 226,102. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 3.08. Holly Energy Partners has a 1 year low of $20.81 and a 1 year high of $31.23. The stock has a fifty day simple moving average of $22.64 and a 200 day simple moving average of $25.95. The stock has a market cap of $2.36 billion, a P/E ratio of 13.03, a PEG ratio of 12.24 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, October 28th were issued a $0.6725 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 12.15%. The ex-dividend date was Friday, October 25th. Holly Energy Partners’s dividend payout ratio (DPR) is currently 158.24%.
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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