BidaskClub lowered shares of Holly Energy Partners, L.P. (NYSE:HEP) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Several other analysts have also commented on the stock. Bank of America Corporation lowered shares of Holly Energy Partners, L.P. from a buy rating to an underperform rating and lowered their price target for the company from $39.00 to $36.00 in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Holly Energy Partners, L.P. from a sell rating to a buy rating and set a $41.00 price target on the stock in a research report on Tuesday, April 25th. Finally, Scotiabank reiterated a hold rating and issued a $34.00 price target on shares of Holly Energy Partners, L.P. in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Holly Energy Partners, L.P. presently has an average rating of Hold and a consensus price target of $36.75.

Shares of Holly Energy Partners, L.P. (NYSE HEP) remained flat at $34.86 on Thursday. The company had a trading volume of 54,443 shares. The stock’s 50 day moving average price is $32.78 and its 200 day moving average price is $34.60. Holly Energy Partners, L.P. has a 1-year low of $29.53 and a 1-year high of $38.09. The stock has a market cap of $2.23 billion, a PE ratio of 27.07 and a beta of 0.85.

Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.49 by $0.36. The business had revenue of $105.63 million during the quarter, compared to analyst estimates of $117 million. Holly Energy Partners, L.P. had a net margin of 34.72% and a return on equity of 35.38%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. Equities research analysts expect that Holly Energy Partners, L.P. will post $1.56 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a $0.6325 dividend. The ex-dividend date is Thursday, August 3rd. This is a positive change from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.62. This represents a $2.53 annualized dividend and a dividend yield of 7.26%. Holly Energy Partners, L.P.’s dividend payout ratio is currently 189.31%.

Hedge funds have recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY raised its stake in Holly Energy Partners, L.P. by 48.9% in the first quarter. Spirit of America Management Corp NY now owns 387,375 shares of the pipeline company’s stock valued at $13,833,000 after buying an additional 127,148 shares in the last quarter. Mariner Investment Group LLC acquired a new stake in Holly Energy Partners, L.P. during the second quarter valued at approximately $2,368,000. Bank of Montreal Can acquired a new stake in Holly Energy Partners, L.P. during the second quarter valued at approximately $1,426,000. Renaissance Technologies LLC raised its stake in Holly Energy Partners, L.P. by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 74,851 shares of the pipeline company’s stock valued at $2,400,000 after buying an additional 40,951 shares in the last quarter. Finally, Morgan Stanley raised its stake in Holly Energy Partners, L.P. by 9.4% in the first quarter. Morgan Stanley now owns 415,147 shares of the pipeline company’s stock valued at $14,825,000 after buying an additional 35,828 shares in the last quarter. Institutional investors and hedge funds own 46.65% of the company’s stock.

About Holly Energy Partners, L.P.

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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