Holly Energy Partners (HEP) Stock Rating Lowered by Goldman Sachs Group

Holly Energy Partners (NYSE:HEP) was downgraded by analysts at Goldman Sachs Group to a “sell” rating in a research note issued on Monday. They presently have a $30.00 target price on the pipeline company’s stock. Goldman Sachs Group’s price target would indicate a potential downside of 11.50% from the stock’s current price.

Several other equities research analysts have also issued reports on HEP. Scotiabank set a $34.00 price objective on shares of Holly Energy Partners and gave the stock a “hold” rating in a research report on Saturday, December 9th. UBS dropped 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 research report on Tuesday, October 17th. Zacks Investment Research raised shares of Holly Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, October 16th. Wells Fargo & Company dropped their price objective on shares of Holly Energy Partners from $35.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, October 20th. Finally, Barclays reissued an “equal weight” rating and issued a $35.00 price objective on shares of Holly Energy Partners in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Holly Energy Partners presently has an average rating of “Hold” and an average price target of $34.71.

Holly Energy Partners (NYSE:HEP) opened at $33.90 on Monday. Holly Energy Partners has a 52-week low of $30.11 and a 52-week high of $38.09. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $2,180.41, a P/E ratio of 19.48, a P/E/G ratio of 10.73 and a beta of 0.88.

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

In other 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 value of $130,040.00. Following the completion of the sale, the director now owns 22,978 shares of the company’s stock, valued at $747,014.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEP. ING Groep grew its holdings in Holly Energy Partners by 27.4% during the 3rd quarter. ING Groep now owns 200,000 shares of the pipeline company’s stock valued at $5,798,000 after purchasing an additional 43,000 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in Holly Energy Partners during the 4th quarter valued at $1,064,000. Tiedemann Trust Co. acquired a new stake in Holly Energy Partners during the 4th quarter valued at $10,466,000. Cullen Frost Bankers Inc. grew its holdings in Holly Energy Partners by 19.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 24,840 shares of the pipeline company’s stock valued at $774,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Clarkston Capital Partners LLC grew its holdings in Holly Energy Partners by 20.0% during the 4th quarter. Clarkston Capital Partners LLC now owns 60,000 shares of the pipeline company’s stock valued at $1,868,000 after purchasing an additional 10,000 shares in the last quarter. 48.60% of the stock is owned by institutional investors and hedge funds.

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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.