Holly Energy Partners, L.P. (NYSE:HEP) Given Consensus Rating of “Hold” by Analysts

Holly Energy Partners, L.P. (NYSE:HEP) has earned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.33.

HEP has been the topic of several recent research reports. Zacks Investment Research upgraded Holly Energy Partners from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Tuesday. Credit Suisse Group reduced their target price on shares of Holly Energy Partners from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, August 10th. Raymond James lowered their price target on shares of Holly Energy Partners from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, August 4th. Wells Fargo & Company raised their price objective on shares of Holly Energy Partners from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, June 24th. Finally, JPMorgan Chase & Co. downgraded shares of Holly Energy Partners from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $24.00 to $20.00 in a research note on Wednesday, August 4th.

In related news, CEO Michael Jennings purchased 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 10th. The shares were purchased at an average cost of $17.95 per share, for a total transaction of $134,625.00. Following the purchase, the chief executive officer now directly owns 26,377 shares of the company’s stock, valued at $473,467.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEP. Alps Advisors Inc. grew its position in Holly Energy Partners by 6.1% during the 1st quarter. Alps Advisors Inc. now owns 6,103,519 shares of the pipeline company’s stock worth $116,638,000 after purchasing an additional 350,143 shares during the last quarter. Blackstone Inc boosted its stake in shares of Holly Energy Partners by 211.0% during the second quarter. Blackstone Inc now owns 4,494,785 shares of the pipeline company’s stock worth $101,717,000 after buying an additional 3,049,403 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Holly Energy Partners by 83.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,139,334 shares of the pipeline company’s stock worth $59,993,000 after buying an additional 1,423,440 shares during the period. First Trust Advisors LP grew its holdings in shares of Holly Energy Partners by 1,994.4% during the second quarter. First Trust Advisors LP now owns 3,058,597 shares of the pipeline company’s stock worth $69,216,000 after buying an additional 2,912,562 shares during the last quarter. Finally, Blackstone Group Inc. increased its position in Holly Energy Partners by 331.7% in the 1st quarter. Blackstone Group Inc. now owns 1,445,382 shares of the pipeline company’s stock valued at $27,621,000 after acquiring an additional 1,110,573 shares during the period. 33.14% of the stock is currently owned by institutional investors.

Shares of HEP stock traded down $0.73 during trading on Friday, reaching $18.02. The company’s stock had a trading volume of 489,326 shares, compared to its average volume of 272,850. Holly Energy Partners has a 1-year low of $10.48 and a 1-year high of $23.69. The stock’s 50-day moving average price is $19.25 and its 200 day moving average price is $20.22. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 10.01 and a beta of 1.07. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.21 and a quick ratio of 1.21.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Tuesday, August 3rd. The pipeline company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The business had revenue of $126.24 million during the quarter, compared to the consensus estimate of $127.15 million. Holly Energy Partners had a net margin of 37.22% and a return on equity of 38.18%. On average, sell-side analysts anticipate that Holly Energy Partners will post 2.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.77%. The ex-dividend date was Friday, July 30th. Holly Energy Partners’s payout ratio is 74.47%.

About Holly Energy Partners

Holly Energy Partners LP engages in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units. It operates through Pipelines & Terminals and Refinery Processing Unit segments. The company was founded in 2004 and is headquartered in Dallas, TX.

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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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