Holly Energy Partners (HEP) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research downgraded shares of Holly Energy Partners (NYSE:HEP) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “

HEP has been the topic of a number of other research reports. Barclays downgraded shares of Holly Energy Partners from an equal weight rating to an underweight rating and decreased their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, September 25th. ValuEngine downgraded shares of Holly Energy Partners from a hold rating to a sell rating in a research note on Tuesday, August 28th. Scotiabank restated a hold rating and issued a $33.00 target price on shares of Holly Energy Partners in a research note on Monday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Holly Energy Partners from $31.00 to $30.00 and set an underweight rating on the stock in a research note on Friday, August 24th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $31.11.

HEP traded down $0.37 during trading on Wednesday, reaching $30.73. 242,857 shares of the company’s stock were exchanged, compared to its average volume of 184,838. Holly Energy Partners has a fifty-two week low of $26.08 and a fifty-two week high of $35.84. 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 company has a market capitalization of $3.32 billion, a P/E ratio of 17.46 and a beta of 0.91.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). Holly Energy Partners had a return on equity of 34.10% and a net margin of 44.01%. The business had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Holly Energy Partners will post 1.73 EPS for the current fiscal year.

Several large investors have recently modified their holdings of HEP. JPMorgan Chase & Co. boosted its stake in shares of Holly Energy Partners by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 784,021 shares of the pipeline company’s stock valued at $21,616,000 after purchasing an additional 36,192 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Holly Energy Partners by 40.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock valued at $667,000 after purchasing an additional 6,996 shares in the last quarter. UBS Group AG boosted its stake in shares of Holly Energy Partners by 5.1% in the 1st quarter. UBS Group AG now owns 1,800,536 shares of the pipeline company’s stock valued at $49,641,000 after purchasing an additional 87,150 shares in the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of Holly Energy Partners by 4.1% in the 1st quarter. United Capital Financial Advisers LLC now owns 47,341 shares of the pipeline company’s stock valued at $1,305,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of Holly Energy Partners by 94.5% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 6,579,080 shares of the pipeline company’s stock valued at $1,177,648,000 after purchasing an additional 3,195,763 shares in the last quarter. Institutional investors own 31.27% of the company’s stock.

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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