Holly Energy Partners (HEP) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Holly Energy Partners (NYSE:HEP) from a sell rating to a hold rating in a report released on Thursday morning.

Several other research firms also recently commented on HEP. Barclays dropped their price objective on shares of Holly Energy Partners from $33.00 to $30.00 and set an equal weight rating on the stock in a report on Tuesday, April 17th. Zacks Investment Research downgraded shares of Holly Energy Partners from a hold rating to a sell rating in a report on Wednesday, June 27th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $30.89.

Holly Energy Partners opened at $32.59 on Thursday, according to MarketBeat Ratings. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 18.52 and a beta of 0.94. Holly Energy Partners has a 52 week low of $26.08 and a 52 week high of $36.02. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50.

Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). The business had revenue of $118.76 million for the quarter, compared to analysts’ expectations of $123.41 million. Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. Holly Energy Partners’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. analysts anticipate that Holly Energy Partners will post 1.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 9th. Stockholders of record on Monday, July 30th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 8.10%. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, July 27th. Holly Energy Partners’s dividend payout ratio is presently 150.00%.

Several institutional investors have recently made changes to their positions in HEP. Deutsche Bank AG lifted its holdings in shares of Holly Energy Partners by 7,782.3% in the fourth quarter. Deutsche Bank AG now owns 70,941 shares of the pipeline company’s stock worth $2,304,000 after buying an additional 70,041 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Holly Energy Partners by 46.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,050 shares of the pipeline company’s stock worth $197,000 after buying an additional 1,927 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Holly Energy Partners in the fourth quarter worth about $395,000. Global X Management Co. LLC lifted its holdings in shares of Holly Energy Partners by 25.7% in the first quarter. Global X Management Co. LLC now owns 28,560 shares of the pipeline company’s stock worth $787,000 after buying an additional 5,833 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ lifted its holdings in shares of Holly Energy Partners by 3.2% in the first quarter. Groesbeck Investment Management Corp NJ now owns 123,966 shares of the pipeline company’s stock worth $3,417,000 after buying an additional 3,810 shares in the last quarter. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

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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