Holly Energy Partners, L.P. (NYSE:HEP) Given Average Rating of “Buy” by Brokerages

Shares of Holly Energy Partners, L.P. (NYSE:HEP) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $19.86.

Several equities research analysts have issued reports on the stock. TheStreet upgraded shares of Holly Energy Partners from a “c” rating to a “b-” rating in a research report on Thursday, March 18th. Raymond James lifted their price target on Holly Energy Partners from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $21.00 price objective (up from $20.00) on shares of Holly Energy Partners in a report on Wednesday, May 19th. Zacks Investment Research raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, May 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $21.00 target price (up previously from $19.00) on shares of Holly Energy Partners in a research report on Monday, May 3rd.

HEP traded up $0.50 during trading hours on Thursday, reaching $22.74. The company’s stock had a trading volume of 146,461 shares, compared to its average volume of 311,078. The company’s 50-day simple moving average is $20.71. Holly Energy Partners has a 52 week low of $10.48 and a 52 week high of $22.82. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 11.12 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.70.

Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Tuesday, May 4th. The pipeline company reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $124.52 million. Holly Energy Partners had a net margin of 42.24% and a return on equity of 39.33%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Analysts predict that Holly Energy Partners will post 2.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Monday, May 3rd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.16%. The ex-dividend date was Friday, April 30th. Holly Energy Partners’s dividend payout ratio (DPR) is currently 74.47%.

A number of hedge funds have recently bought and sold shares of the stock. Capital Investment Advisors LLC grew its stake in Holly Energy Partners by 1.2% during the first quarter. Capital Investment Advisors LLC now owns 52,699 shares of the pipeline company’s stock worth $1,007,000 after buying an additional 617 shares in the last quarter. Childress Capital Advisors LLC acquired a new stake in shares of Holly Energy Partners during the 4th quarter worth approximately $25,000. Royal Bank of Canada boosted its position in shares of Holly Energy Partners by 7.9% during the 1st quarter. Royal Bank of Canada now owns 30,980 shares of the pipeline company’s stock worth $592,000 after acquiring an additional 2,267 shares in the last quarter. Allworth Financial LP bought a new position in Holly Energy Partners in the first quarter valued at approximately $52,000. Finally, Miller Howard Investments Inc. NY raised its position in Holly Energy Partners by 0.9% during the first quarter. Miller Howard Investments Inc. NY now owns 310,108 shares of the pipeline company’s stock valued at $5,926,000 after purchasing an additional 2,774 shares in the last quarter. 29.82% of the stock is owned by institutional investors and hedge funds.

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 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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