Holly Energy Partners, L.P. (NYSE:HEP)‘s stock had its “hold” rating reaffirmed by equities research analysts at Scotiabank in a report released on Friday. They currently have a $34.00 price objective on the pipeline company’s stock. Scotiabank’s price objective would indicate a potential upside of 1.37% from the company’s previous close.
HEP has been the subject of a number of other research reports. Zacks Investment Research raised shares of Holly Energy Partners, L.P. from a “sell” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, April 25th. BidaskClub raised shares of Holly Energy Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Bank of America Corporation lowered shares of Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $39.00 to $36.00 in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.75.
Shares of Holly Energy Partners, L.P. (NYSE:HEP) opened at 33.54 on Friday. The firm has a market cap of $2.14 billion, a P/E ratio of 26.04 and a beta of 0.85. Holly Energy Partners, L.P. has a 12 month low of $29.53 and a 12 month high of $38.09. The stock’s 50 day moving average price is $32.38 and its 200-day moving average price is $34.56.
Holly Energy Partners, L.P. (NYSE:HEP) last released its earnings results on Tuesday, May 2nd. The pipeline company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.36. Holly Energy Partners, L.P. had a return on equity of 35.38% and a net margin of 34.72%. The business had revenue of $105.63 million for the quarter, compared to analyst estimates of $117 million. During the same period in the prior year, the firm posted $0.52 EPS. Holly Energy Partners, L.P.’s revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Holly Energy Partners, L.P. will post $1.60 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Bollard Group LLC raised its position in shares of Holly Energy Partners, L.P. by 1.4% in the second quarter. Bollard Group LLC now owns 212,862 shares of the pipeline company’s stock valued at $6,914,000 after buying an additional 3,038 shares during the period. Spirit of America Management Corp NY raised its position in shares of Holly Energy Partners, L.P. by 18.2% in the second quarter. Spirit of America Management Corp NY now owns 457,875 shares of the pipeline company’s stock valued at $14,872,000 after buying an additional 70,500 shares during the period. Weaver C. Barksdale & Associates Inc. raised its position in shares of Holly Energy Partners, L.P. by 2.0% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 41,922 shares of the pipeline company’s stock valued at $1,362,000 after buying an additional 833 shares during the period. Creative Planning raised its position in shares of Holly Energy Partners, L.P. by 17.0% in the second quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock valued at $175,000 after buying an additional 782 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Holly Energy Partners, L.P. during the second quarter valued at about $1,426,000. 46.54% of the stock is owned by institutional investors.
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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