Holly Energy Partners, L.P. (NYSE:HEP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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. “

Other equities analysts have also issued reports about the company. UBS AG cut their price objective on Holly Energy Partners, L.P. from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Scotiabank set a $34.00 price objective on Holly Energy Partners, L.P. and gave the stock a “hold” rating in a research note on Friday. BidaskClub raised Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company cut their price objective on Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Shares of Holly Energy Partners, L.P. (HEP) traded down 1.13% during mid-day trading on Monday, hitting $33.30. The stock had a trading volume of 144,558 shares. Holly Energy Partners, L.P. has a 1-year low of $29.53 and a 1-year high of $38.09. The stock’s 50-day moving average is $34.07 and its 200-day moving average is $33.67. The firm has a market capitalization of $2.14 billion, a PE ratio of 27.61 and a beta of 0.88.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.36 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 analyst estimates of $113.12 million. Holly Energy Partners, L.P. had a return on equity of 34.14% and a net margin of 34.06%. Holly Energy Partners, L.P.’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts expect that Holly Energy Partners, L.P. will post $1.39 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC increased its holdings 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 purchasing an additional 3,101 shares in the last quarter. Advisor Group Inc. increased its holdings 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 purchasing an additional 3,476 shares in the last quarter. Creative Planning increased its holdings 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 purchasing an additional 782 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings 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 purchasing an additional 2,286 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Holly Energy Partners, L.P. by 11.2% in the second quarter. Proficio Capital Partners LLC now owns 7,080 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 713 shares in the last quarter. Institutional investors and hedge funds own 46.19% 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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