Holly Energy Partners, L.P. (HEP) Upgraded to Buy at Zacks Investment Research

Holly Energy Partners, L.P. (NYSE:HEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, November 3rd. The firm currently has a $38.00 price target on the pipeline company’s stock. Zacks Investment Research‘s target price points to a potential upside of 18.49% from the stock’s previous close.

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 have also issued research reports about the stock. Scotiabank set a $34.00 price objective on shares of Holly Energy Partners, L.P. and gave the stock a “hold” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of Holly Energy Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Wells Fargo & Company decreased their price objective on shares of Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, October 20th. Finally, UBS AG downgraded shares of Holly Energy Partners, L.P. from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $35.50.

Holly Energy Partners, L.P. (NYSE:HEP) traded up $0.32 on Friday, reaching $32.07. 78,104 shares of the company’s stock traded hands, compared to its average volume of 174,778. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.69. The firm has a market cap of $2,060.00, a PE ratio of 18.28, a PEG ratio of 10.07 and a beta of 0.89. Holly Energy Partners, L.P. has a 52-week low of $30.11 and a 52-week high of $38.09.

Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. Holly Energy Partners, L.P. had a net margin of 34.35% and a return on equity of 34.29%. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $113.01 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. sell-side analysts expect that Holly Energy Partners, L.P. will post 1.58 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in HEP. Penserra Capital Management LLC grew its position in shares of Holly Energy Partners, L.P. by 424.8% during the 2nd 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 during the period. Advisor Group Inc. grew its position in shares of Holly Energy Partners, L.P. by 477.5% during the 2nd quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock worth $137,000 after buying an additional 3,476 shares during the period. Creative Planning grew its position in Holly Energy Partners, L.P. by 17.0% in the 2nd quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock valued at $175,000 after purchasing an additional 782 shares during the period. Virtu Financial LLC acquired a new stake in Holly Energy Partners, L.P. in the 3rd quarter valued at $242,000. Finally, Proficio Capital Partners LLC grew its position in Holly Energy Partners, L.P. by 11.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 7,080 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 713 shares during the period. 42.65% of the stock is owned by institutional investors and hedge funds.

About Holly Energy Partners, L.P.

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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Analyst Recommendations for Holly Energy Partners, L.P. (NYSE:HEP)

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