Today, Holly Energy Partners, L.P. (HEP) gets “Hold” status at The Zacks Investment Research

Today, Holly Energy Partners, L.P. (HEP) gets “Hold” status at The Zacks Investment Research

Holly Energy Partners, L.P. (NYSE:HEP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “

Other analysts also recently issued research reports about the company. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $36.00 target price on shares of Holly Energy Partners, L.P. in a research note on Thursday, August 25th. Bank of America Corp. set a $38.00 target price on Holly Energy Partners, L.P. and gave the stock a “buy” rating in a research note on Tuesday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $36.50.

Holly Energy Partners, L.P. (NYSE:HEP) traded down 1.20% during mid-day trading on Monday, reaching $33.06. The company’s stock had a trading volume of 30,614 shares. The company has a market cap of $2.08 billion, a PE ratio of 18.43 and a beta of 0.84. The firm’s 50 day moving average is $32.24 and its 200-day moving average is $33.48. Holly Energy Partners, L.P. has a 12-month low of $21.44 and a 12-month high of $36.99.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The business earned $92.60 million during the quarter, compared to analyst estimates of $100.08 million. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts anticipate that Holly Energy Partners, L.P. will post $1.80 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, October 31st were given a dividend of $0.595 per share. The ex-dividend date was Thursday, October 27th. This represents a $2.38 dividend on an annualized basis and a yield of 7.20%. This is an increase from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.59.

Institutional investors have recently modified their holdings of the company. Energy Income Partners LLC increased its position in shares of Holly Energy Partners, L.P. by 9.6% in the first quarter. Energy Income Partners LLC now owns 4,790,818 shares of the company’s stock worth $162,074,000 after buying an additional 421,217 shares in the last quarter. Uniplan Investment Counsel Inc. acquired a new position in shares of Holly Energy Partners, L.P. during the second quarter worth about $5,052,000. UBS Group AG increased its position in shares of Holly Energy Partners, L.P. by 6.3% in the third quarter. UBS Group AG now owns 1,417,657 shares of the company’s stock worth $48,101,000 after buying an additional 83,531 shares in the last quarter. Spirit of America Management Corp NY increased its position in shares of Holly Energy Partners, L.P. by 43.0% in the second quarter. Spirit of America Management Corp NY now owns 253,327 shares of the company’s stock worth $8,778,000 after buying an additional 76,139 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ increased its position in shares of Holly Energy Partners, L.P. by 93.2% in the third quarter. Groesbeck Investment Management Corp NJ now owns 109,068 shares of the company’s stock worth $3,701,000 after buying an additional 52,623 shares in the last quarter.

Holly Energy Partners, L.P. 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 and loading rack facilities. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

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