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

A number of other research firms also recently issued reports on HEP. Zacks Investment Research upgraded shares of Holly Energy Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research report on Tuesday, July 19th. Barclays PLC reiterated 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. Finally, Goldman Sachs Group Inc. reiterated 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.50.

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

Holly Energy Partners, L.P. (NYSE:HEP) traded up 0.21% on Tuesday, reaching $33.96. The company’s stock had a trading volume of 25,825 shares. The stock has a market capitalization of $2.01 billion, a P/E ratio of 18.13 and a beta of 0.84. The firm has a 50 day moving average price of $32.96 and a 200 day moving average price of $33.67. Holly Energy Partners, L.P. has a 52 week low of $21.44 and a 52 week high of $36.99.

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Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $94.90 million for the quarter, compared to analyst estimates of $97.17 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Holly Energy Partners, L.P.’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts anticipate that Holly Energy Partners, L.P. will post $1.95 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of HEP. Energy Income Partners LLC boosted its stake in Holly Energy Partners, L.P. by 9.6% in the first quarter. Energy Income Partners LLC now owns 4,790,818 shares of the company’s stock valued at $162,074,000 after buying an additional 421,217 shares during the last quarter. Harvest Fund Advisors LLC boosted its stake in Holly Energy Partners, L.P. by 2.3% in the first quarter. Harvest Fund Advisors LLC now owns 1,200,380 shares of the company’s stock valued at $40,609,000 after buying an additional 27,221 shares during the last quarter. Creative Planning boosted its stake in Holly Energy Partners, L.P. by 0.3% in the second quarter. Creative Planning now owns 3,908 shares of the company’s stock valued at $135,000 after buying an additional 12 shares during the last quarter. Sanders Morris Harris Inc. purchased a new stake in Holly Energy Partners, L.P. during the first quarter valued at approximately $494,000. Finally, BlackRock Inc. purchased a new stake in Holly Energy Partners, L.P. during the first quarter valued at approximately $174,000.

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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