Holly Energy Partners (NYSE:HEP) PT Raised to $22.00

Holly Energy Partners (NYSE:HEP) had its price objective raised by Wells Fargo & Company from $21.00 to $22.00 in a research report sent to investors on Thursday, Price Targets.com reports. They currently have an equal weight rating on the pipeline company’s stock.

Several other research analysts have also recently issued reports on HEP. TheStreet raised Holly Energy Partners from a c rating to a b- rating in a research report on Thursday, March 18th. Zacks Investment Research raised Holly Energy Partners from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Wednesday, May 5th. Raymond James boosted their price objective on Holly Energy Partners from $21.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, May 5th. Finally, JPMorgan Chase & Co. reissued a neutral rating and issued a $21.00 price objective (up previously from $19.00) on shares of Holly Energy Partners in a research report on Monday, May 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $20.00.

NYSE HEP opened at $22.54 on Thursday. The company has a market capitalization of $2.38 billion, a P/E ratio of 11.76 and a beta of 1.10. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.28 and a current ratio of 1.28. Holly Energy Partners has a 52 week low of $10.48 and a 52 week high of $23.69. The firm’s 50 day moving average price is $21.41.

Holly Energy Partners (NYSE:HEP) last announced its earnings results on Tuesday, May 4th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $127.20 million for the quarter, compared to analysts’ expectations of $124.52 million. Holly Energy Partners had a return on equity of 39.33% and a net margin of 42.24%. Holly Energy Partners’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts expect that Holly Energy Partners will post 2.02 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Shareholders of record on Monday, May 3rd were paid a $0.35 dividend. The ex-dividend date was Friday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.21%. Holly Energy Partners’s payout ratio is presently 74.47%.

Institutional investors and hedge funds have recently modified their holdings of the business. Childress Capital Advisors LLC bought a new stake in shares of Holly Energy Partners in the fourth quarter valued at $25,000. Allworth Financial LP bought a new stake in shares of Holly Energy Partners in the first quarter valued at $52,000. Northern Oak Wealth Management Inc. bought a new stake in shares of Holly Energy Partners during the 1st quarter valued at $73,000. Jane Street Group LLC bought a new stake in shares of Holly Energy Partners during the 4th quarter valued at $147,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Holly Energy Partners by 64.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,953 shares of the pipeline company’s stock valued at $209,000 after purchasing an additional 4,303 shares during the period. Hedge funds and other institutional investors own 29.82% 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 in Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Idaho, and Washington.

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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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