Holly Energy Partners (NYSE:HEP) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.
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. "
A number of other equities analysts have also weighed in on the stock. UBS Group upped their target price on shares of Holly Energy Partners from $16.00 to $17.50 and gave the stock a "buy" rating in a research note on Monday, May 11th. US Capital Advisors raised shares of Holly Energy Partners from a "hold" rating to an "overweight" rating in a research note on Thursday, May 21st. Wells Fargo & Co upped their target price on shares of Holly Energy Partners from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 14th. Raymond James raised shares of Holly Energy Partners from an "underperform" rating to an "outperform" rating in a research note on Monday, April 27th. Finally, Barclays raised shares of Holly Energy Partners from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $13.00 to $14.00 in a research note on Monday, April 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of "Hold" and an average target price of $16.92.
HEP opened at $13.73 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 3.50. Holly Energy Partners has a 12 month low of $6.57 and a 12 month high of $30.61. The company has a fifty day simple moving average of $15.75 and a 200 day simple moving average of $17.73. The stock has a market cap of $1.49 billion, a P/E ratio of 7.30 and a beta of 1.05.
Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.48 EPS for the quarter, beating the Zacks' consensus estimate of $0.44 by $0.04. Holly Energy Partners had a net margin of 37.74% and a return on equity of 41.37%. The business had revenue of $127.90 million during the quarter, compared to analysts' expectations of $133.77 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm's quarterly revenue was down 4.9% on a year-over-year basis. On average, equities research analysts expect that Holly Energy Partners will post 1.58 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Tiedemann Advisors LLC boosted its stake in shares of Holly Energy Partners by 9.2% during the 4th quarter. Tiedemann Advisors LLC now owns 585,153 shares of the pipeline company's stock worth $12,961,000 after buying an additional 49,177 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in Holly Energy Partners in the 1st quarter valued at about $343,000. Marshall Wace LLP lifted its stake in Holly Energy Partners by 86.1% in the 4th quarter. Marshall Wace LLP now owns 366,337 shares of the pipeline company's stock valued at $8,114,000 after purchasing an additional 169,482 shares during the last quarter. Brookfield Public Securities Group LLC lifted its stake in Holly Energy Partners by 18.4% in the 4th quarter. Brookfield Public Securities Group LLC now owns 1,346,524 shares of the pipeline company's stock valued at $29,826,000 after purchasing an additional 209,049 shares during the last quarter. Finally, UBS Group AG lifted its stake in Holly Energy Partners by 3.2% in the 4th quarter. UBS Group AG now owns 1,373,093 shares of the pipeline company's stock valued at $30,414,000 after purchasing an additional 42,701 shares during the last quarter. Institutional investors own 32.22% 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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