Holly Energy Partners (NYSE:HEP) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Holly Energy Partners (NYSE:HEP) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. Zacks Investment Research currently has $21.00 price target on the pipeline company’s stock.

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 equities analysts have also recently issued reports about the stock. TheStreet raised shares of Holly Energy Partners from a c rating to a b- rating in a research note on Thursday, March 18th. Credit Suisse Group lowered Holly Energy Partners from an outperform rating to a neutral rating and boosted their target price for the company from $16.00 to $17.00 in a research report on Thursday, December 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Holly Energy Partners presently has an average rating of Buy and a consensus target price of $18.43.

NYSE:HEP opened at $19.25 on Wednesday. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 12.26 and a beta of 1.12. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $14.71. Holly Energy Partners has a 1 year low of $10.48 and a 1 year high of $20.06.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings results on Monday, February 22nd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $127.46 million during the quarter, compared to the consensus estimate of $124.97 million. Holly Energy Partners had a return on equity of 40.34% and a net margin of 32.83%. Holly Energy Partners’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. As a group, analysts expect that Holly Energy Partners will post 1.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Tuesday, February 2nd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, February 1st. This represents a $1.40 annualized dividend and a yield of 7.27%. Holly Energy Partners’s dividend payout ratio (DPR) is 74.87%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Childress Capital Advisors LLC bought a new position in Holly Energy Partners in the fourth quarter worth approximately $25,000. JPMorgan Chase & Co. lifted its holdings in shares of Holly Energy Partners by 6.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,623,424 shares of the pipeline company’s stock worth $23,053,000 after buying an additional 95,451 shares during the period. Jane Street Group LLC bought a new position in shares of Holly Energy Partners during the 4th quarter worth $147,000. Infrastructure Capital Advisors LLC bought a new position in shares of Holly Energy Partners during the 4th quarter worth $5,148,000. Finally, CWM Advisors LLC purchased a new position in shares of Holly Energy Partners during the fourth quarter valued at $315,000. Hedge funds and other institutional investors own 31.55% 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 in Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Idaho, and Washington.

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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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