Holly Energy Partners (NYSE:HEP) Research Coverage Started at StockNews.com

Posted by Jim Brewer on Mar 19th, 2023

StockNews.com initiated coverage on shares of Holly Energy Partners (NYSE:HEP – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the pipeline company’s stock.

HEP has been the subject of a number of other reports. Citigroup began coverage on shares of Holly Energy Partners in a research note on Thursday, December 8th. They issued a neutral rating and a $19.00 price objective for the company. Barclays upped their target price on shares of Holly Energy Partners from $17.00 to $18.00 in a research report on Tuesday, January 10th. Finally, Raymond James upped their target price on shares of Holly Energy Partners from $21.00 to $22.00 and gave the stock an outperform rating in a research report on Monday, January 23rd.

Holly Energy Partners Stock Performance

Shares of NYSE HEP opened at $17.61 on Thursday. The firm has a fifty day moving average price of $18.63 and a 200-day moving average price of $18.31. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $2.23 billion, a PE ratio of 9.95 and a beta of 0.92. Holly Energy Partners has a 1 year low of $15.12 and a 1 year high of $20.00.

Holly Energy Partners (NYSE:HEP – Get Rating) last announced its quarterly earnings data on Friday, February 24th. The pipeline company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $148.10 million. Holly Energy Partners had a net margin of 39.60% and a return on equity of 23.88%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. Equities analysts anticipate that Holly Energy Partners will post 2.07 earnings per share for the current fiscal year.

Holly Energy Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Monday, January 30th were given a dividend of $0.35 per share. The ex-dividend date was Friday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.95%. Holly Energy Partners’s dividend payout ratio is 79.10%.

Hedge Funds Weigh In On Holly Energy Partners

Several institutional investors have recently bought and sold shares of the business. Natixis lifted its position in Holly Energy Partners by 100.0% during the fourth quarter. Natixis now owns 214,800 shares of the pipeline company’s stock valued at $3,892,000 after purchasing an additional 107,400 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Holly Energy Partners by 3.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 34,648 shares of the pipeline company’s stock valued at $628,000 after purchasing an additional 1,254 shares during the last quarter. CI Private Wealth LLC bought a new position in Holly Energy Partners during the fourth quarter valued at $703,000. Jane Street Group LLC lifted its position in Holly Energy Partners by 9.1% during the fourth quarter. Jane Street Group LLC now owns 48,171 shares of the pipeline company’s stock valued at $873,000 after purchasing an additional 4,001 shares during the last quarter. Finally, Morgan Stanley lifted its position in Holly Energy Partners by 39.2% during the fourth quarter. Morgan Stanley now owns 1,091,286 shares of the pipeline company’s stock valued at $19,774,000 after purchasing an additional 307,079 shares during the last quarter. Institutional investors own 25.30% of the company’s stock.

About Holly Energy Partners

(Get Rating)

Holly Energy Partners LP engages in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities. It operates through the Pipelines and Terminals, and Refinery Processing Unit segments. The Pipelines and Terminals segment includes petroleum products, crude pipelines and terminal, tankage, and loading rack facilities.