Equities analysts expect that Holly Energy Partners, L.P. (NYSE:HEP) will report sales of $127.40 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Holly Energy Partners’ earnings, with estimates ranging from $126.15 million to $129.44 million. Holly Energy Partners posted sales of $110.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.4%. The company is expected to announce its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that Holly Energy Partners will report full-year sales of $509.98 million for the current fiscal year, with estimates ranging from $508.90 million to $511.00 million. For the next year, analysts expect that the business will report sales of $530.45 million per share, with estimates ranging from $521.40 million to $541.29 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last released its earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). The business had revenue of $118.76 million for the quarter, compared to analysts’ expectations of $123.41 million. Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. Holly Energy Partners’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. ValuEngine cut shares of Holly Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Scotiabank reissued a “hold” rating and issued a $33.00 price objective on shares of Holly Energy Partners in a research note on Monday, August 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating on the stock in a research note on Friday, August 24th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company has an average rating of “Hold” and an average target price of $30.78.

Shares of NYSE:HEP traded up $0.32 during trading on Friday, hitting $31.00. 13,420 shares of the company were exchanged, compared to its average volume of 203,268. Holly Energy Partners has a 12-month low of $26.08 and a 12-month high of $36.02. The company has a market capitalization of $3.13 billion, a PE ratio of 17.44 and a beta of 0.88. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50.

A number of large investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Holly Energy Partners by 94.5% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 6,579,080 shares of the pipeline company’s stock worth $1,177,648,000 after acquiring an additional 3,195,763 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Holly Energy Partners by 9.6% during the first quarter. OppenheimerFunds Inc. now owns 6,084,815 shares of the pipeline company’s stock worth $167,758,000 after purchasing an additional 533,030 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Holly Energy Partners by 15.4% during the second quarter. Alps Advisors Inc. now owns 3,803,218 shares of the pipeline company’s stock worth $107,479,000 after purchasing an additional 508,610 shares during the period. Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Holly Energy Partners during the first quarter worth about $3,532,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of Holly Energy Partners by 138.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 206,740 shares of the pipeline company’s stock worth $5,700,000 after purchasing an additional 120,170 shares during the period. Institutional investors own 31.30% of the company’s stock.

About Holly Energy Partners

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 of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.

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