Holly Energy Partners, L.P. (HEP) Receives $31.33 Average Target Price from Brokerages

Shares of Holly Energy Partners, L.P. (NYSE:HEP) have been assigned an average rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.33.

Several equities analysts recently commented on HEP shares. Zacks Investment Research upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Barclays reiterated a “sell” rating on shares of Holly Energy Partners in a research note on Wednesday, February 20th.

Shares of NYSE HEP traded down $0.29 during midday trading on Wednesday, reaching $27.80. The company’s stock had a trading volume of 133,214 shares, compared to its average volume of 152,116. Holly Energy Partners has a 12-month low of $26.44 and a 12-month high of $34.00. The company has a market capitalization of $2.96 billion, a PE ratio of 16.35, a PEG ratio of 15.56 and a beta of 0.78. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.03.

Holly Energy Partners (NYSE:HEP) last announced its earnings results on Wednesday, May 1st. The pipeline company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. Holly Energy Partners had a return on equity of 34.88% and a net margin of 35.92%. The firm had revenue of $134.50 million for the quarter, compared to the consensus estimate of $128.80 million. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Holly Energy Partners will post 1.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Monday, April 29th were paid a $0.67 dividend. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, April 26th. This represents a $2.68 annualized dividend and a yield of 9.64%. Holly Energy Partners’s dividend payout ratio is presently 157.65%.

A number of institutional investors have recently bought and sold shares of HEP. JPMorgan Chase & Co. lifted its stake in Holly Energy Partners by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 879,788 shares of the pipeline company’s stock valued at $27,679,000 after purchasing an additional 44,682 shares during the last quarter. Bank of Montreal Can lifted its stake in Holly Energy Partners by 1,239.2% in the fourth quarter. Bank of Montreal Can now owns 52,136 shares of the pipeline company’s stock valued at $1,489,000 after purchasing an additional 48,243 shares during the last quarter. Sigma Planning Corp purchased a new position in Holly Energy Partners in the fourth quarter valued at approximately $307,000. Pettinga Financial Advisors LLC purchased a new position in Holly Energy Partners in the fourth quarter valued at approximately $210,000. Finally, Alps Advisors Inc. lifted its stake in Holly Energy Partners by 12.5% in the fourth quarter. Alps Advisors Inc. now owns 4,558,080 shares of the pipeline company’s stock valued at $130,179,000 after purchasing an additional 507,846 shares during the last quarter. Institutional investors and hedge funds own 31.91% of the company’s stock.

About Holly Energy Partners

Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units that support the refining and marketing operations of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.

Further Reading: Leveraged Buyout (LBO)

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