Jefferies Group Begins Coverage on Holly Energy Partners (HEP)

Equities research analysts at Jefferies Group assumed coverage on shares of Holly Energy Partners (NYSE:HEP) in a report released on Wednesday, Marketbeat reports. The firm set a “hold” rating and a $28.00 price target on the pipeline company’s stock. Jefferies Group’s price objective suggests a potential downside of 13.66% from the company’s previous close. Jefferies Group also issued estimates for Holly Energy Partners’ Q4 2017 earnings at $0.41 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.82 EPS, FY2019 earnings at $1.83 EPS, FY2020 earnings at $1.85 EPS, FY2021 earnings at $1.85 EPS and FY2022 earnings at $1.93 EPS.

A number of other analysts have also recently weighed in on HEP. UBS Group decreased their price target on shares of Holly Energy Partners from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Holly Energy Partners from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, January 16th. Wells Fargo & Co decreased their price target on shares of Holly Energy Partners from $35.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, October 20th. Credit Suisse Group began coverage on shares of Holly Energy Partners in a research note on Thursday, January 4th. They set an “underperform” rating and a $28.00 price target for the company. Finally, Scotiabank set a $34.00 price target on shares of Holly Energy Partners and gave the stock a “hold” rating in a research note on Saturday, December 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.11.

Holly Energy Partners (NYSE:HEP) traded up $0.45 during midday trading on Wednesday, hitting $32.43. 209,437 shares of the company were exchanged, compared to its average volume of 184,217. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $2,090.00, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 8.26 and a beta of 0.88. Holly Energy Partners has a 1 year low of $30.11 and a 1 year high of $38.09.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. The firm had revenue of $110.40 million for 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 company’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. equities analysts expect that Holly Energy Partners will post 1.59 earnings per share for the current year.

In related news, Director Michael Jennings sold 4,000 shares of the stock in a transaction 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 in the company, valued at approximately $747,014.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Holly Energy Partners in the 3rd quarter worth $2,891,000. JPMorgan Chase & Co. lifted its stake in shares of Holly Energy Partners by 23.0% in 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. Alps Advisors Inc. acquired a new stake in shares of Holly Energy Partners in the 3rd quarter worth $112,122,000. Richard C. Young & CO. LTD. lifted its stake in shares of Holly Energy Partners by 5.3% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 65,810 shares of the pipeline company’s stock worth $2,198,000 after acquiring an additional 3,341 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Holly Energy Partners by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 77,988 shares of the pipeline company’s stock worth $2,605,000 after acquiring an additional 3,388 shares during the period. Institutional investors own 48.59% of the company’s stock.

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About Holly Energy Partners

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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