Holly Energy Partners, L.P. Downgraded by Zacks to Neutral (HEP)
Holly Energy Partners, L.P. (NYSE:HEP) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Monday. They currently have a $39.70 target price on the stock. Zacks‘s price objective points to a potential upside of 14.05% from the company’s current price.
Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded down 0.11% on Monday, hitting $34.7702. 43,020 shares of the company’s stock traded hands. Holly Energy Partners, L.P. has a one year low of $29.55 and a one year high of $40.00. The stock’s 50-day moving average is $34.4 and its 200-day moving average is $33.1. The company has a market cap of $2.040 billion and a P/E ratio of 36.53.
Holly Energy Partners, L.P. (NYSE:HEP) last announced its earnings results on Thursday, May 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $87.00 million for the quarter, compared to the consensus estimate of $77.52 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, analysts predict that Holly Energy Partners, L.P. will post $1.24 earnings per share for the current fiscal year.
Separately, analysts at Howard Weil raised their price target on shares of Holly Energy Partners, L.P. from $34.00 to $35.00 in a research note on Friday, May 2nd. They now have a “sector perform” rating on the stock.
Holly Energy Partners, L.P. (NYSE:HEP) is engaged principally in the business of operating a system of petroleum product and crude oil pipelines, storage tanks, distribution terminals and loading rack facilities in west Texas, New Mexico, Utah, Arizona, Oklahoma, Idaho and Washington.
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