BidaskClub Downgrades Holly Energy Partners, L.P. (NYSE:HEP) to Sell

Holly Energy Partners, L.P. (NYSE:HEP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, July 27th.

A number of other equities analysts have also recently commented on HEP. Zacks Investment Research cut Holly Energy Partners, L.P. from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 29th. Scotiabank reiterated a “hold” rating and set a $34.00 price target on shares of Holly Energy Partners, L.P. in a report on Thursday, April 27th. Finally, Bank of America Corporation cut Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $39.00 to $36.00 in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Holly Energy Partners, L.P. has an average rating of “Hold” and a consensus target price of $36.75.

Holly Energy Partners, L.P. (HEP) traded down 2.19% during trading on Thursday, hitting $33.09. The company had a trading volume of 146,463 shares. Holly Energy Partners, L.P. has a one year low of $29.53 and a one year high of $38.09. The stock has a 50-day moving average of $33.27 and a 200-day moving average of $34.63. The stock has a market capitalization of $2.13 billion, a PE ratio of 27.55 and a beta of 0.86.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.12. Holly Energy Partners, L.P. had a return on equity of 34.14% and a net margin of 34.06%. The business had revenue of $109.14 million for the quarter, compared to the consensus estimate of $113.12 million. During the same quarter in the previous year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts anticipate that Holly Energy Partners, L.P. will post $1.47 EPS for the current year.

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Large investors have recently modified their holdings of the company. Penserra Capital Management LLC boosted its stake in shares of Holly Energy Partners, L.P. by 424.8% in the second quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock worth $123,000 after buying an additional 3,101 shares in the last quarter. Creative Planning boosted its stake in shares of Holly Energy Partners, L.P. by 17.0% in the second quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock worth $175,000 after buying an additional 782 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Holly Energy Partners, L.P. by 72.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock worth $194,000 after buying an additional 2,286 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Holly Energy Partners, L.P. during the first quarter worth about $211,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Holly Energy Partners, L.P. during the first quarter worth about $218,000. Institutional investors own 47.73% of the company’s stock.

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, loading rack facilities and refinery processing units in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

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