Holly Energy Partners, L.P. (NYSE:HEP) has been given an average rating of “Hold” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $35.33.

A number of research analysts have issued reports on HEP shares. BidaskClub raised shares of Holly Energy Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research cut shares of Holly Energy Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Bank of America Corporation cut shares of Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $39.00 to $36.00 in a report on Thursday, May 4th. Finally, Scotiabank set a $34.00 price target on shares of Holly Energy Partners, L.P. and gave the stock a “hold” rating in a report on Friday, July 21st.

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Shares of Holly Energy Partners, L.P. (HEP) traded down 1.92% during midday trading on Tuesday, hitting $31.65. 126,059 shares of the company traded hands. The stock has a market capitalization of $2.04 billion, a P/E ratio of 26.24 and a beta of 0.86. Holly Energy Partners, L.P. has a 52 week low of $29.53 and a 52 week high of $38.09. The company has a 50-day moving average price of $33.55 and a 200-day moving average price of $34.45.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.12. The company had revenue of $109.14 million during the quarter, compared to analysts’ expectations of $113.12 million. Holly Energy Partners, L.P. had a return on equity of 34.14% and a net margin of 34.06%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. Analysts anticipate that Holly Energy Partners, L.P. will post $1.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $0.6325 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.53 dividend on an annualized basis and a dividend yield of 7.99%. This is a positive change from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.62. Holly Energy Partners, L.P.’s dividend payout ratio is presently 207.38%.

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in Holly Energy Partners, L.P. by 424.8% in the second quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock worth $123,000 after buying an additional 3,101 shares during the last quarter. Advisor Group Inc. raised its stake in Holly Energy Partners, L.P. by 477.5% in the second quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock worth $137,000 after buying an additional 3,476 shares during the last quarter. Creative Planning raised its stake in Holly Energy Partners, L.P. by 17.0% in the second quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock worth $175,000 after buying an additional 782 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Holly Energy Partners, L.P. by 72.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock worth $194,000 after buying an additional 2,286 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in Holly Energy Partners, L.P. during the first quarter worth $211,000. Hedge funds and other institutional investors own 47.15% of the company’s stock.

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, loading rack facilities and refinery processing units in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

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