Holly Energy Partners, L.P. (NYSE:HEP) Receives $25.43 Consensus Target Price from Brokerages

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Holly Energy Partners, L.P. (NYSE:HEP) has earned an average rating of “Sell” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $25.43.

A number of research firms have commented on HEP. Zacks Investment Research downgraded shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. ValuEngine downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Credit Suisse Group downgraded shares of Holly Energy Partners from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $31.00 to $24.00 in a research report on Monday, August 19th. Finally, Raymond James cut shares of Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 price objective on the stock. in a research note on Wednesday, June 26th. They noted that the move was a valuation call.

In other news, Director Eric L. Mattson sold 2,000 shares of Holly Energy Partners stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.55, for a total value of $55,100.00. Following the transaction, the director now owns 4,198 shares of the company’s stock, valued at approximately $115,654.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. HM Payson & Co. acquired a new position in shares of Holly Energy Partners in the 2nd quarter worth approximately $38,000. NEXT Financial Group Inc purchased a new position in Holly Energy Partners during the second quarter valued at approximately $41,000. Aperio Group LLC purchased a new position in Holly Energy Partners during the second quarter valued at approximately $109,000. Advisor Group Inc. grew its position in Holly Energy Partners by 64.3% during the second quarter. Advisor Group Inc. now owns 4,948 shares of the pipeline company’s stock valued at $137,000 after purchasing an additional 1,936 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its position in Holly Energy Partners by 313.3% during the second quarter. AdvisorNet Financial Inc now owns 5,778 shares of the pipeline company’s stock valued at $159,000 after purchasing an additional 4,380 shares in the last quarter. 30.84% of the stock is currently owned by institutional investors.

Shares of NYSE:HEP opened at $25.44 on Tuesday. The company has a market cap of $2.75 billion, a PE ratio of 14.96, a P/E/G ratio of 14.11 and a beta of 0.73. The company’s 50-day moving average price is $27.15 and its 200 day moving average price is $27.63. Holly Energy Partners has a fifty-two week low of $24.84 and a fifty-two week high of $33.40. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.17.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $130.80 million for 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%. Holly Energy Partners’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. As a group, equities analysts anticipate that Holly Energy Partners will post 1.85 EPS for the current year.

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 of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.

See Also: Equity Income

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