Zacks Investment Research upgraded shares of Holly Energy Partners (NYSE:HEP) from a sell rating to a hold rating in a research note published on Thursday 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 subject of several other reports. Barclays restated a sell rating on shares of Holly Energy Partners in a report on Wednesday, February 20th. Scotiabank restated a hold rating on shares of Holly Energy Partners in a report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Hold and an average price target of $31.60.

Shares of NYSE HEP opened at $28.08 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.15 and a quick ratio of 1.15. Holly Energy Partners has a 12 month low of $26.08 and a 12 month high of $34.00. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 16.52 and a beta of 0.80.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings data on Tuesday, February 19th. The pipeline company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). Holly Energy Partners had a return on equity of 32.61% and a net margin of 35.33%. The company had revenue of $132.80 million during the quarter, compared to the consensus estimate of $129.81 million. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that Holly Energy Partners will post 1.8 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Research Inc. grew its position in shares of Holly Energy Partners by 345.5% in the 3rd quarter. Advisory Research Inc. now owns 688,490 shares of the pipeline company’s stock worth $21,660,000 after buying an additional 533,955 shares during the period. Alps Advisors Inc. grew its position in shares of Holly Energy Partners by 12.5% in the 4th quarter. Alps Advisors Inc. now owns 4,558,080 shares of the pipeline company’s stock worth $130,179,000 after buying an additional 507,846 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in shares of Holly Energy Partners by 4.1% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 6,926,285 shares of the pipeline company’s stock worth $217,901,000 after buying an additional 273,580 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Holly Energy Partners by 574.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 312,082 shares of the pipeline company’s stock worth $8,913,000 after buying an additional 265,832 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Holly Energy Partners in the 4th quarter worth about $6,187,000. Institutional investors and hedge funds own 32.28% 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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