Holly Energy Partners, L.P. (NYSE:HEP) has been assigned a $38.00 price objective by research analysts at Bank of America Corp. in a research report issued to clients and investors on Tuesday. The brokerage presently has a a “buy” rating on the stock. Bank of America Corp.’s target price indicates a potential upside of 12.13% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Holly Energy Partners, L.P. in a research report on Thursday, July 7th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $36.00 price target on shares of Holly Energy Partners, L.P. in a research report on Thursday, August 25th. Finally, Zacks Investment Research raised shares of Holly Energy Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.50.

Analyst Recommendations for Holly Energy Partners, L.P. (NYSE:HEP)

Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded up 0.21% during trading on Tuesday, hitting $33.96. 25,825 shares of the company’s stock were exchanged. The stock has a market cap of $2.01 billion, a PE ratio of 18.13 and a beta of 0.84. Holly Energy Partners, L.P. has a 1-year low of $21.44 and a 1-year high of $36.99. The stock’s 50-day moving average price is $32.96 and its 200-day moving average price is $33.67.

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Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The company earned $94.90 million during the quarter, compared to the consensus estimate of $97.17 million. Holly Energy Partners, L.P.’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. On average, equities analysts expect that Holly Energy Partners, L.P. will post $1.95 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Springbok Capital Management LLC purchased a new position in Holly Energy Partners, L.P. during the first quarter valued at approximately $125,000. Pinnacle Holdings LLC raised its position in Holly Energy Partners, L.P. by 5.2% in the first quarter. Pinnacle Holdings LLC now owns 83,191 shares of the company’s stock valued at $2,814,000 after buying an additional 4,080 shares in the last quarter. Williams Jones & Associates LLC increased its stake in Holly Energy Partners, L.P. by 13.6% in the first quarter. Williams Jones & Associates LLC now owns 20,585 shares of the company’s stock worth $696,000 after buying an additional 2,465 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Holly Energy Partners, L.P. by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,261,511 shares of the company’s stock worth $110,337,000 after buying an additional 376,521 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ bought a new stake in Holly Energy Partners, L.P. during the first quarter worth $1,910,000.

Holly Energy Partners, L.P. Company Profile

Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals and loading rack facilities. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

5 Day Chart for NYSE:HEP

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