Holly Energy Partners, L.P. (NYSE:HEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $38.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.16% from the stock’s previous close.

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. “

Several other research firms have also recently weighed in on HEP. BidaskClub raised Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. UBS Group AG (USA) cut Holly Energy Partners, L.P. from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Friday. Wells Fargo & Company lowered their price target on Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, October 20th. Finally, Scotiabank set a $34.00 price target on Holly Energy Partners, L.P. and gave the company a “hold” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Holly Energy Partners, L.P. presently has an average rating of “Hold” and a consensus price target of $35.60.

Holly Energy Partners, L.P. (NYSE:HEP) traded up $0.62 during midday trading on Friday, hitting $34.81. The stock had a trading volume of 139,436 shares, compared to its average volume of 143,014. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $2.24 billion, a P/E ratio of 20.01, a PEG ratio of 7.34 and a beta of 0.89.

Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.20. The firm had revenue of $110.40 million for the quarter, compared to analysts’ expectations of $113.01 million. Holly Energy Partners, L.P. had a return on equity of 34.00% and a net margin of 34.35%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. research analysts anticipate that Holly Energy Partners, L.P. will post 1.58 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Holly Energy Partners, L.P. by 352.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,642 shares of the pipeline company’s stock worth $123,000 after purchasing an additional 2,837 shares during the period. Springbok Capital Management LLC bought a new position in Holly Energy Partners, L.P. in the 1st quarter worth $125,000. Penserra Capital Management LLC raised its holdings in Holly Energy Partners, L.P. by 424.8% in the 2nd 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 during the period. Creative Planning raised its holdings in Holly Energy Partners, L.P. by 0.3% in the 2nd quarter. Creative Planning now owns 3,908 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 12 shares during the period. Finally, Advisor Group Inc. raised its holdings in Holly Energy Partners, L.P. by 477.5% in the 2nd 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 during the period. 46.10% of the stock is currently owned by institutional investors.

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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