Holly Energy Partners, L.P. (NYSE:HEP) has received an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $30.38.
HEP has been the topic of several research analyst reports. Zacks Investment Research raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, July 25th. Scotiabank reiterated a “hold” rating and issued a $33.00 target price on shares of Holly Energy Partners in a research report on Monday, August 20th. ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. dropped their target price on Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Friday, August 24th.
Institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. bought a new position in Holly Energy Partners in the second quarter valued at about $230,000. Virtu Financial LLC bought a new position in Holly Energy Partners in the second quarter valued at about $250,000. Truvestments Capital LLC bought a new position in Holly Energy Partners in the second quarter valued at about $345,000. Cullen Frost Bankers Inc. raised its position in shares of Holly Energy Partners by 11.4% during the first quarter. Cullen Frost Bankers Inc. now owns 23,400 shares of the pipeline company’s stock worth $645,000 after acquiring an additional 2,400 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Holly Energy Partners by 40.7% during the first quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock worth $667,000 after acquiring an additional 6,996 shares during the last quarter. Hedge funds and other institutional investors own 31.27% of the company’s stock.
NYSE:HEP opened at $29.30 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 16.65 and a beta of 0.88. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50. Holly Energy Partners has a twelve month low of $26.08 and a twelve month high of $36.02.
Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The business had revenue of $118.76 million during the quarter, compared to analyst estimates of $123.41 million. Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. equities analysts predict that Holly Energy Partners will post 1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 9th. Shareholders of record on Monday, July 30th were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, July 27th. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.64 annualized dividend and a yield of 9.01%. Holly Energy Partners’s dividend payout ratio (DPR) is currently 150.00%.
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.
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