Holly Energy Partners, L.P. (NYSE:HEP) has been assigned a $38.00 price target by stock analysts at Bank of America Corp. in a report issued on Tuesday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s price objective indicates a potential upside of 11.96% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on HEP. Zacks Investment Research raised Holly Energy Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Monday, June 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $35.00 target price on shares of Holly Energy Partners, L.P. in a research report on Thursday, July 7th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $36.00 target price on shares of Holly Energy Partners, L.P. in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $37.50.

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

Shares of Holly Energy Partners, L.P. (NYSE:HEP) opened at 33.94 on Tuesday. Holly Energy Partners, L.P. has a 52 week low of $21.44 and a 52 week high of $36.99. The company has a 50 day moving average of $32.95 and a 200-day moving average of $33.67. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 18.12 and a beta of 0.84.

Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm earned $94.90 million during the quarter, compared to analyst estimates of $97.17 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Holly Energy Partners, L.P. will post $1.95 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA acquired a new stake in Holly Energy Partners, L.P. during the first quarter valued at $1,444,000. Sanders Morris Harris Inc. acquired a new stake in Holly Energy Partners, L.P. during the first quarter valued at $494,000. BlackRock Inc. acquired a new stake in Holly Energy Partners, L.P. during the first quarter valued at $174,000. Acrospire Investment Management LLC acquired a new stake in Holly Energy Partners, L.P. during the first quarter valued at $294,000. Finally, ING Groep NV boosted its stake in Holly Energy Partners, L.P. by 59.1% in the first quarter. ING Groep NV now owns 297,712 shares of the company’s stock valued at $10,069,000 after buying an additional 110,552 shares in the last quarter.

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

5 Day Chart for NYSE:HEP

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