Holly Energy Partners, L.P. (NYSE:HEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $38.00 price target on the pipeline company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.16% from the company’s previous close.

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. “

Several other equities research analysts have also issued reports on the company. BidaskClub lowered Holly Energy Partners, L.P. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Scotiabank set a $34.00 price objective on Holly Energy Partners, L.P. and gave the company a “hold” rating in a research note on Friday, July 21st. Wells Fargo & Company dropped their price target on Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, October 20th. Finally, UBS Group AG (USA) dropped their price target on Holly Energy Partners, L.P. from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.60.

Shares of Holly Energy Partners, L.P. (HEP) traded up $0.62 on Friday, hitting $34.81. The company had a trading volume of 139,436 shares, compared to its average volume of 143,014. The company has a market capitalization of $2.24 billion, a PE ratio of 20.01, a P/E/G ratio of 7.34 and a beta of 0.89. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.58.

Holly Energy Partners, L.P. (NYSE:HEP) last released its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. Holly Energy Partners, L.P. had a return on equity of 34.00% and a net margin of 34.35%. The business had revenue of $110.40 million during the quarter, compared to the consensus estimate of $113.01 million. During the same period last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. equities analysts forecast that Holly Energy Partners, L.P. will post 1.58 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC grew its holdings in shares of Holly Energy Partners, L.P. by 424.8% during the 2nd quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock worth $123,000 after acquiring an additional 3,101 shares during the period. Advisor Group Inc. boosted its position in shares of Holly Energy Partners, L.P. by 477.5% in the 2nd quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock worth $137,000 after purchasing an additional 3,476 shares in the last quarter. Creative Planning boosted its position in shares of Holly Energy Partners, L.P. by 17.0% in the 2nd quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock worth $175,000 after purchasing an additional 782 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Holly Energy Partners, L.P. by 11.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 7,080 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 713 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Holly Energy Partners, L.P. by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 8,800 shares of the pipeline company’s stock valued at $286,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 46.10% of the company’s stock.

Holly Energy Partners, L.P. Company Profile

Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

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