Brokerages Anticipate Holly Energy Partners, L.P. (HEP) Will Post Quarterly Sales of $127.40 Million

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Wall Street brokerages expect Holly Energy Partners, L.P. (NYSE:HEP) to post $127.40 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Holly Energy Partners’ earnings. The highest sales estimate is $129.44 million and the lowest is $126.15 million. Holly Energy Partners reported sales of $110.36 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.4%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, October 30th.

According to Zacks, analysts expect that Holly Energy Partners will report full-year sales of $509.98 million for the current year, with estimates ranging from $508.90 million to $511.00 million. For the next financial year, analysts forecast that the company will report sales of $530.45 million, with estimates ranging from $521.40 million to $541.29 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). The firm had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. Holly Energy Partners’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS.

A number of analysts have weighed in on HEP shares. Scotiabank reaffirmed a “hold” rating and issued a $33.00 price target on shares of Holly Energy Partners in a research report on Monday, August 20th. Zacks Investment Research cut Holly Energy Partners from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. JPMorgan Chase & Co. reduced their price target on Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. ValuEngine cut Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Barclays cut Holly Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $30.00 to $28.00 in a research report on Tuesday, September 25th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.56.

Several large investors have recently made changes to their positions in the business. United Capital Financial Advisers LLC lifted its position in shares of Holly Energy Partners by 4.1% in the first quarter. United Capital Financial Advisers LLC now owns 47,341 shares of the pipeline company’s stock worth $1,305,000 after buying an additional 1,873 shares during the last quarter. Bollard Group LLC lifted its position in shares of Holly Energy Partners by 1.9% in the first quarter. Bollard Group LLC now owns 222,460 shares of the pipeline company’s stock worth $6,133,000 after buying an additional 4,146 shares during the last quarter. Groesbeck Investment Management Corp NJ lifted its position in shares of Holly Energy Partners by 3.5% in the second quarter. Groesbeck Investment Management Corp NJ now owns 128,329 shares of the pipeline company’s stock worth $3,627,000 after buying an additional 4,363 shares during the last quarter. Global X Management Co LLC lifted its position in shares of Holly Energy Partners by 15.3% during the 2nd quarter. Global X Management Co LLC now owns 32,923 shares of the pipeline company’s stock worth $930,000 after purchasing an additional 4,363 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Holly Energy Partners by 40.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock worth $667,000 after purchasing an additional 6,996 shares during the last quarter. 31.27% of the stock is owned by institutional investors.

HEP traded down $0.16 during trading on Monday, reaching $31.25. 58,737 shares of the stock traded hands, compared to its average volume of 186,225. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 17.76 and a beta of 0.91. Holly Energy Partners has a fifty-two week low of $26.08 and a fifty-two week high of $35.84. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50.

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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