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.

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“There are not enough semiconductor chips in the world to meet the growing demand. But due to the global chip shortage…

These four companies are well positioned to take advantage of this rapidly growing demand over the next 12 months and beyond. ”

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.

Further reading

Analyst Recommendations for Holly Energy Partners (NYSE: HEP)

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