Holly Energy Partners, L.P. (NYSE:HEP) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $35.50.

A number of analysts have issued reports on HEP shares. BidaskClub downgraded shares of Holly Energy Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. UBS cut their price objective on shares of Holly Energy Partners from $39.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Scotiabank set a $34.00 price objective on shares of Holly Energy Partners and gave the company a “hold” rating in a report on Friday, October 20th. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Barclays reissued an “equal weight” rating and issued a $35.00 price objective on shares of Holly Energy Partners in a report on Friday, November 10th.

Shares of Holly Energy Partners (NYSE HEP) opened at $33.74 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.69. The stock has a market cap of $2,192.63, a PE ratio of 19.59, a price-to-earnings-growth ratio of 10.79 and a beta of 0.88. Holly Energy Partners has a twelve month low of $30.11 and a twelve month high of $38.09.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. The firm had revenue of $110.40 million during the quarter, compared to the consensus estimate of $113.01 million. Holly Energy Partners had a net margin of 34.35% and a return on equity of 34.29%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. equities research analysts expect that Holly Energy Partners will post 1.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were issued a dividend of $0.645 per share. This represents a $2.58 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date was Friday, November 3rd. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.63. Holly Energy Partners’s dividend payout ratio is 166.45%.

In other news, Director Michael Jennings sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $32.51, for a total transaction of $130,040.00. Following the completion of the sale, the director now owns 22,978 shares of the company’s stock, valued at approximately $747,014.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Several institutional investors have recently modified their holdings of HEP. Alps Advisors Inc. bought a new stake in shares of Holly Energy Partners during the 3rd quarter worth approximately $112,122,000. JPMorgan Chase & Co. lifted its holdings in shares of Holly Energy Partners by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock worth $26,778,000 after acquiring an additional 146,385 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of Holly Energy Partners during the 3rd quarter worth approximately $2,891,000. Bank of Montreal Can bought a new stake in shares of Holly Energy Partners during the 2nd quarter worth approximately $1,426,000. Finally, Citigroup Inc. increased its position in Holly Energy Partners by 23.6% during the 2nd quarter. Citigroup Inc. now owns 200,741 shares of the pipeline company’s stock worth $6,520,000 after purchasing an additional 38,381 shares in the last quarter. 48.60% of the stock is owned by institutional investors.

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Holly Energy Partners 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.

Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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