Holly Energy Partners (NYSE:HEP) Price Target Increased to $21.00 by Analysts at Raymond James

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Holly Energy Partners (NYSE:HEP) had its price target lifted by Raymond James from $18.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

HEP has been the subject of a number of other reports. Zacks Investment Research raised shares of Holly Energy Partners from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Tuesday, April 13th. TheStreet upgraded shares of Holly Energy Partners from a c rating to a b- rating in a research report on Thursday, March 18th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $18.88.

Shares of Holly Energy Partners stock opened at $19.89 on Wednesday. Holly Energy Partners has a 12-month low of $10.48 and a 12-month high of $20.12. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 3.12. The stock has a market cap of $2.10 billion, a PE ratio of 12.67 and a beta of 1.12. The company has a 50-day moving average of $19.10 and a two-hundred day moving average of $15.21.

Holly Energy Partners (NYSE:HEP) last issued its earnings results on Monday, February 22nd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. Holly Energy Partners had a net margin of 32.83% and a return on equity of 40.34%. The company had revenue of $127.46 million during the quarter, compared to analysts’ expectations of $124.97 million. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Holly Energy Partners will post 1.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Tuesday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend was Monday, February 1st. Holly Energy Partners’s dividend payout ratio is currently 74.87%.

Large investors have recently bought and sold shares of the business. Childress Capital Advisors LLC purchased a new position in Holly Energy Partners during the fourth quarter worth approximately $25,000. Jane Street Group LLC acquired a new stake in shares of Holly Energy Partners in the fourth quarter worth $147,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Holly Energy Partners in the fourth quarter worth $172,000. LPL Financial LLC increased its position in shares of Holly Energy Partners by 28.0% in the fourth quarter. LPL Financial LLC now owns 16,498 shares of the pipeline company’s stock worth $234,000 after acquiring an additional 3,606 shares in the last quarter. Finally, CWM Advisors LLC acquired a new stake in shares of Holly Energy Partners in the fourth quarter worth $315,000. 31.55% of the stock is currently owned by institutional investors.

Holly Energy Partners Company Profile

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 in Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Idaho, and Washington.

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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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