Holly Energy Partners, L.P. (HEP) Given Consensus Recommendation of “Hold” by Analysts

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Shares of Holly Energy Partners, L.P. (NYSE:HEP) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.89.

A number of brokerages have recently issued reports on HEP. ValuEngine cut shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Barclays reduced their price objective on shares of Holly Energy Partners from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 17th.

Shares of Holly Energy Partners opened at $32.59 on Monday, according to MarketBeat. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $3.44 billion, a PE ratio of 18.52 and a beta of 0.94. Holly Energy Partners has a 1 year low of $26.08 and a 1 year high of $36.02.

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in HEP. Tortoise Capital Advisors L.L.C. grew its stake in Holly Energy Partners by 1.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,652,705 shares of the pipeline company’s stock valued at $188,005,000 after acquiring an additional 73,625 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Holly Energy Partners by 9.6% during the first quarter. OppenheimerFunds Inc. now owns 6,084,815 shares of the pipeline company’s stock valued at $167,758,000 after acquiring an additional 533,030 shares in the last quarter. Alps Advisors Inc. grew its stake in Holly Energy Partners by 15.4% during the second quarter. Alps Advisors Inc. now owns 3,803,218 shares of the pipeline company’s stock valued at $107,479,000 after acquiring an additional 508,610 shares in the last quarter. UBS Group AG grew its stake in Holly Energy Partners by 5.1% during the first quarter. UBS Group AG now owns 1,800,536 shares of the pipeline company’s stock valued at $49,641,000 after acquiring an additional 87,150 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Holly Energy Partners by 4.8% during the first quarter. JPMorgan Chase & Co. now owns 784,021 shares of the pipeline company’s stock valued at $21,616,000 after acquiring an additional 36,192 shares in the last quarter. 31.70% of the stock is 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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