Holly Energy Partners (HEP) Earns “Neutral” Rating from UBS Group
UBS Group restated their neutral rating on shares of Holly Energy Partners (NYSE:HEP) in a report released on Friday morning, www.benzinga.com reports. They currently have a $30.00 price objective on the pipeline company’s stock, down from their previous price objective of $33.00.
Several other brokerages have also recently weighed in on HEP. Zacks Investment Research upgraded shares of Holly Energy Partners from a hold rating to a buy rating and set a $38.00 price objective for the company in a research note on Friday, November 3rd. Goldman Sachs Group cut shares of Holly Energy Partners from a neutral rating to a sell rating and set a $30.00 target price for the company. in a research report on Monday, December 18th. Credit Suisse Group started coverage on shares of Holly Energy Partners in a research report on Thursday, January 4th. They issued an underperform rating and a $28.00 target price for the company. Scotiabank set a $34.00 target price on shares of Holly Energy Partners and gave the company a hold rating in a research report on Saturday, December 9th. Finally, Barclays restated an equal weight rating and issued a $35.00 target price on shares of Holly Energy Partners in a research report on Friday, November 10th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has an average rating of Hold and an average target price of $32.22.
Shares of Holly Energy Partners (NYSE HEP) traded down $0.67 during trading on Friday, reaching $28.64. 136,609 shares of the company’s stock traded hands, compared to its average volume of 189,423. Holly Energy Partners has a twelve month low of $28.48 and a twelve month high of $37.56. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.11. The firm has a market cap of $1,840.00, a PE ratio of 13.57, a price-to-earnings-growth ratio of 16.02 and a beta of 0.75.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were given a $0.65 dividend. The ex-dividend date was Friday, February 2nd. This is a boost from Holly Energy Partners’s previous quarterly dividend of $0.65. This represents a $2.60 annualized dividend and a dividend yield of 9.08%. Holly Energy Partners’s payout ratio is presently 123.22%.
Several large investors have recently modified their holdings of HEP. Alps Advisors Inc. acquired a new position in shares of Holly Energy Partners in the 3rd quarter valued at approximately $112,122,000. JPMorgan Chase & Co. grew its holdings in shares of Holly Energy Partners by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock valued at $26,778,000 after purchasing an additional 146,385 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Holly Energy Partners during the 3rd quarter valued at approximately $2,891,000. Deutsche Bank AG grew its holdings in shares of Holly Energy Partners by 7,782.3% during the 4th quarter. Deutsche Bank AG now owns 70,941 shares of the pipeline company’s stock valued at $2,304,000 after purchasing an additional 70,041 shares during the last quarter. Finally, Green Square Capital LLC bought a new stake in shares of Holly Energy Partners during the 4th quarter valued at approximately $2,166,000. Institutional investors own 30.60% of the company’s stock.
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Holly Energy Partners 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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