Zacks Investment Research upgraded shares of Holly Energy Partners (NYSE:HEP) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “
Several other research firms also recently weighed in on HEP. Scotiabank reaffirmed a hold rating on shares of Holly Energy Partners in a research note on Tuesday, November 20th. Barclays reaffirmed a sell rating on shares of Holly Energy Partners in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $31.60.
Holly Energy Partners stock opened at $29.21 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.15 and a debt-to-equity ratio of 2.75. Holly Energy Partners has a fifty-two week low of $26.08 and a fifty-two week high of $34.00. The company has a market cap of $3.08 billion, a PE ratio of 17.18 and a beta of 0.82.
Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Tuesday, February 19th. The pipeline company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). Holly Energy Partners had a net margin of 35.33% and a return on equity of 32.61%. The company had revenue of $132.80 million for the quarter, compared to the consensus estimate of $129.81 million. During the same period in the prior year, the firm posted $0.96 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts predict that Holly Energy Partners will post 1.8 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, February 4th were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 9.14%. The ex-dividend date was Friday, February 1st. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.67. Holly Energy Partners’s payout ratio is currently 157.06%.
Institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its holdings in Holly Energy Partners by 4.1% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,926,285 shares of the pipeline company’s stock valued at $217,901,000 after buying an additional 273,580 shares during the period. Alps Advisors Inc. increased its holdings in Holly Energy Partners by 12.5% during the fourth quarter. Alps Advisors Inc. now owns 4,558,080 shares of the pipeline company’s stock valued at $130,179,000 after buying an additional 507,846 shares during the period. JPMorgan Chase & Co. increased its holdings in Holly Energy Partners by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 879,788 shares of the pipeline company’s stock valued at $27,679,000 after buying an additional 44,682 shares during the period. Advisory Research Inc. increased its holdings in Holly Energy Partners by 345.5% during the third quarter. Advisory Research Inc. now owns 688,490 shares of the pipeline company’s stock valued at $21,660,000 after buying an additional 533,955 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Holly Energy Partners by 574.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 312,082 shares of the pipeline company’s stock valued at $8,913,000 after buying an additional 265,832 shares during the period. 32.30% of the stock is owned by hedge funds and other institutional investors.
Holly Energy Partners Company Profile
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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