Holly Energy Partners, L.P. (NYSE:HEP) has earned an average recommendation of "Buy" from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $18.80.
HEP has been the subject of several recent analyst reports. Credit Suisse Group lowered shares of Holly Energy Partners from an "outperform" rating to a "neutral" rating and upped their target price for the stock from $16.00 to $17.00 in a research note on Thursday, December 17th. UBS Group cut their target price on shares of Holly Energy Partners from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, November 5th. Finally, Zacks Investment Research upgraded shares of Holly Energy Partners from a "sell" rating to a "hold" rating in a research report on Thursday, January 21st.
NYSE HEP opened at $15.81 on Tuesday. Holly Energy Partners has a 1 year low of $6.57 and a 1 year high of $23.37. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 10.07 and a beta of 1.12. The company has a fifty day moving average price of $14.94 and a 200-day moving average price of $13.80.
The company also recently declared a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Tuesday, February 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date of this dividend was Monday, February 1st. Holly Energy Partners's payout ratio is 74.87%.
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Holly Energy Partners by 6.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,623,424 shares of the pipeline company's stock worth $23,053,000 after acquiring an additional 95,451 shares in the last quarter. Morgan Stanley raised its stake in shares of Holly Energy Partners by 40.0% during the third quarter. Morgan Stanley now owns 1,358,556 shares of the pipeline company's stock worth $16,479,000 after acquiring an additional 387,908 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Holly Energy Partners by 3.0% during the third quarter. Wells Fargo & Company MN now owns 1,198,730 shares of the pipeline company's stock worth $14,540,000 after acquiring an additional 34,504 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Holly Energy Partners by 11.0% during the third quarter. CIBC Private Wealth Group LLC now owns 995,530 shares of the pipeline company's stock worth $12,075,000 after acquiring an additional 99,040 shares in the last quarter. Finally, Blackstone Group Inc raised its stake in shares of Holly Energy Partners by 5.9% during the third quarter. Blackstone Group Inc now owns 370,060 shares of the pipeline company's stock worth $4,489,000 after acquiring an additional 20,466 shares in the last quarter. 31.55% of the stock is currently 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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