Holly Energy Partners, LP (NYSE:HEP) Receives Consensus “Hold” Recommendation from Analysts
Holly Energy Partners, LP (NYSE: HEP – Get a rating) received a consensus rating of “Hold” by the eight analysts who cover the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have hedged the stock over the past year is $19.40.
Several research companies have recently published reports on HEP. StockNews.com downgraded shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays lowered its price target on shares of Holly Energy Partners from $17.00 to $15.00 in a Thursday, February 24 report. Zacks Investment Research downgraded the shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 5. Raymond James lowered his price target on Holly Energy Partners shares from $21.00 to $20.00 and set an “outperform” rating on the stock in a Wednesday, February 23 report. Finally, Wells Fargo & Company downgraded Holly Energy Partners shares from a “weighted” rating to an “overweight” rating and set a target price of $22.00 on the stock in a Thursday research note. December 16.
NYSE HEP shares opened at $16.93 on Friday. The company has a market capitalization of $1.79 billion, a P/E ratio of 8.34 and a beta of 0.92. Holly Energy Partners has a 52-week low of $15.61 and a 52-week high of $23.69. The company has a debt ratio of 2.37, a quick ratio of 1.23 and a current ratio of 1.23. The company’s 50-day moving average price is $17.87 and its 200-day moving average price is $17.97.
Holly Energy Partners (NYSE:HEP- Get a rating) last released its results on Monday, February 21. The pipeline company reported earnings per share (EPS) of $0.43 for the quarter, missing the Zacks consensus estimate of $0.48 per ($0.05). Holly Energy Partners achieved a net margin of 43.47% and a return on equity of 34.42%. The company posted revenue of $118.50 million for the quarter, versus analyst estimates of $119.37 million. In the same quarter of the previous year, the company achieved EPS of $0.49. The company’s revenue was down 7.1% year over year. Analysts expect Holly Energy Partners to post earnings per share of 2.01 for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 11. Shareholders of record on Tuesday, February 1 received a dividend of $0.35. This represents an annualized dividend of $1.40 and a dividend yield of 8.27%. The ex-dividend date was Monday, January 31. Holly Energy Partners’ dividend payout ratio is 68.97%.
In other news, Director James H. Lee sold 8,809 shares of the company in a trade that took place on Wednesday, December 15. The shares were sold at an average price of $16.25, for a total value of $143,146.25. The sale was disclosed in a legal filing with the SEC, accessible via this link. 0.80% of the shares are currently held by insiders of the company.
A number of institutional investors have recently changed their positions in the company. Blackstone Inc increased its position in shares of Holly Energy Partners by 211.0% in the second quarter. Blackstone Inc now owns 4,494,785 shares of the pipeline company worth $101,717,000 after purchasing an additional 3,049,403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in the shares of Holly Energy Partners by 14.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,962,334 shares of the pipeline company valued at $65,339,000 after purchasing an additional 504,763 shares during the period. Morgan Stanley increased its stake in the shares of Holly Energy Partners by 177.3% during the 2nd quarter. Morgan Stanley now owns 514,559 shares of the pipeline company valued at $11,644,000 after purchasing an additional 329,008 shares during the period. Brookfield Asset Management Inc. increased its stake in the shares of Holly Energy Partners by 58.2% during the second quarter. Brookfield Asset Management Inc. now owns 551,340 shares of the pipeline company valued at $12,477,000 after purchasing an additional 202,936 shares during the period. Finally, Alps Advisors Inc. increased its stake in the shares of Holly Energy Partners by 3.5% during the 4th quarter. Alps Advisors Inc. now owns 5,947,463 shares of the pipeline company valued at $98,074,000 after purchasing an additional 202,307 shares during the period.
About Holly Energy Partners (Get a rating)
Holly Energy Partners LP operates a system of petroleum products and crude oil pipelines, storage tanks, distribution terminals, loading facilities and refinery processing units. It operates through Pipelines & Terminals and Refinery Process Unit segments. The company was founded in 2004 and is based in Dallas, Texas.
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