Holly Energy Partners (NYSE:HEP) Rating Lowered to Underperform at Credit Suisse Group

Holly Energy Partners (NYSE:HEP) was downgraded by analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a report released on Monday, Marketbeat Ratings reports. They currently have a $24.00 target price on the pipeline company’s stock, down from their prior target price of $31.00. Credit Suisse Group’s price objective suggests a potential downside of 12.15% from the company’s current price.

Several other research analysts have also issued reports on HEP. ValuEngine lowered Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James lowered Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 price target on the stock. in a research report on Wednesday, June 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Holly Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has an average rating of “Sell” and an average price target of $28.17.

NYSE HEP opened at $27.32 on Monday. The stock has a fifty day moving average of $28.27 and a 200-day moving average of $27.97. The stock has a market capitalization of $2.90 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 14.87 and a beta of 0.73. Holly Energy Partners has a 52 week low of $26.33 and a 52 week high of $33.40. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.34 and a current ratio of 1.34.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Holly Energy Partners had a return on equity of 37.40% and a net margin of 36.16%. The business had revenue of $130.80 million for the quarter, compared to analyst estimates of $128.07 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Holly Energy Partners will post 1.85 earnings per share for the current fiscal year.

In other news, Director Eric L. Mattson sold 2,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.55, for a total value of $55,100.00. Following the transaction, the director now directly owns 4,198 shares in the company, valued at approximately $115,654.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Barings LLC boosted its stake in shares of Holly Energy Partners by 213.0% in the second quarter. Barings LLC now owns 33,489 shares of the pipeline company’s stock valued at $921,000 after buying an additional 22,789 shares during the period. HM Payson & Co. bought a new stake in shares of Holly Energy Partners in the second quarter valued at approximately $38,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Holly Energy Partners by 8.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 13,600 shares of the pipeline company’s stock valued at $374,000 after buying an additional 1,100 shares during the period. Jane Street Group LLC boosted its stake in shares of Holly Energy Partners by 26.5% in the second quarter. Jane Street Group LLC now owns 35,725 shares of the pipeline company’s stock valued at $982,000 after buying an additional 7,483 shares during the period. Finally, Energy Income Partners LLC boosted its stake in shares of Holly Energy Partners by 1.0% in the second quarter. Energy Income Partners LLC now owns 5,270,483 shares of the pipeline company’s stock valued at $144,938,000 after buying an additional 49,856 shares during the period. Hedge funds and other institutional investors own 31.12% of the company’s stock.

Holly Energy Partners Company Profile

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.

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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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