Holly Energy Partners (HEP) Earns Hold Rating from Scotiabank
Holly Energy Partners (NYSE:HEP)‘s stock had its “hold” rating restated by investment analysts at Scotiabank in a research note issued to investors on Monday. They presently have a $33.00 price objective on the pipeline company’s stock. Scotiabank’s price target would indicate a potential upside of 4.30% from the company’s current price.
Several other brokerages have also issued reports on HEP. Zacks Investment Research lowered Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. ValuEngine lowered Holly Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.78.
Shares of Holly Energy Partners stock opened at $31.64 on Monday. The firm has a market cap of $3.33 billion, a P/E ratio of 15.47 and a beta of 0.94. Holly Energy Partners has a 12 month low of $26.08 and a 12 month high of $36.02. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.12 and a current ratio of 1.12.
Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Holly Energy Partners during the 2nd quarter valued at $230,000. Virtu Financial LLC bought a new stake in shares of Holly Energy Partners during the 2nd quarter valued at $250,000. Cullen Frost Bankers Inc. raised its stake in shares of Holly Energy Partners by 11.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 23,400 shares of the pipeline company’s stock valued at $645,000 after purchasing an additional 2,400 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Holly Energy Partners by 40.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock valued at $667,000 after purchasing an additional 6,996 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of Holly Energy Partners by 25.7% during the 1st quarter. Global X Management Co. LLC now owns 28,560 shares of the pipeline company’s stock valued at $787,000 after purchasing an additional 5,833 shares during the period. Institutional investors own 32.55% 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.
Further Reading: Google Finance Portfolio Tips and Tricks
Receive News & Ratings for Holly Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.