Holly Energy Partners (NYSE:HEP) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research firms also recently issued reports on HEP. Scotiabank restated a “hold” rating and set a $33.00 target price on shares of Holly Energy Partners in a research report on Monday, August 20th. Zacks Investment Research upgraded shares of Holly Energy Partners from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating on the stock in a research report on Friday, August 24th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Holly Energy Partners presently has an average rating of “Hold” and a consensus price target of $30.78.

Holly Energy Partners stock traded up $1.28 during trading hours on Wednesday, reaching $32.95. 633,600 shares of the company’s stock traded hands, compared to its average volume of 186,501. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50. Holly Energy Partners has a fifty-two week low of $26.08 and a fifty-two week high of $36.02. The company has a market cap of $3.23 billion, a PE ratio of 18.72 and a beta of 0.89.

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 analysts’ consensus estimates of $0.41 by ($0.03). Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. The business had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. research analysts forecast that Holly Energy Partners will post 1.73 EPS for the current year.

Several large investors have recently made changes to their positions in HEP. Tortoise Capital Advisors L.L.C. raised its position in shares of Holly Energy Partners by 94.5% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 6,579,080 shares of the pipeline company’s stock valued at $1,177,648,000 after acquiring an additional 3,195,763 shares during the period. OppenheimerFunds Inc. raised its position in shares of Holly Energy Partners by 9.6% in the 1st quarter. OppenheimerFunds Inc. now owns 6,084,815 shares of the pipeline company’s stock valued at $167,758,000 after acquiring an additional 533,030 shares during the period. Alps Advisors Inc. raised its position in shares of Holly Energy Partners by 15.4% in the 2nd quarter. Alps Advisors Inc. now owns 3,803,218 shares of the pipeline company’s stock valued at $107,479,000 after acquiring an additional 508,610 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Holly Energy Partners in the 1st quarter valued at approximately $3,532,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Holly Energy Partners by 138.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 206,740 shares of the pipeline company’s stock valued at $5,700,000 after acquiring an additional 120,170 shares during the period. Institutional investors and hedge funds own 31.28% of the company’s stock.

Holly Energy Partners Company Profile

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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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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