Holly Energy Partners (NYSE:HEP) Lowered to “Underperform” at Raymond James

Raymond James cut shares of Holly Energy Partners (NYSE:HEP) from a market perform rating to an underperform rating in a research report released on Wednesday, June 26th, Benzinga reports. The firm currently has $26.86 target price on the pipeline company’s stock. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Yext from a strong-buy rating to a buy rating in a research report on Friday, May 10th. Zacks Investment Research downgraded Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Holly Energy Partners has an average rating of Hold and a consensus price target of $30.31.

NYSE:HEP traded up $0.24 during mid-day trading on Wednesday, hitting $29.00. 77,600 shares of the company’s stock traded hands, compared to its average volume of 154,069. The stock has a fifty day moving average of $27.59. Holly Energy Partners has a twelve month low of $26.33 and a twelve month high of $34.00. The company has a market cap of $3.00 billion, a P/E ratio of 17.07, a P/E/G ratio of 15.70 and a beta of 0.72. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.03.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings data on Wednesday, May 1st. The pipeline company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $134.50 million for the quarter, compared to analyst estimates of $128.80 million. Holly Energy Partners had a return on equity of 34.88% and a net margin of 35.92%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. Analysts expect that Holly Energy Partners will post 1.84 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new position in Holly Energy Partners in the 2nd quarter valued at about $41,000. AdvisorNet Financial Inc increased its position in Holly Energy Partners by 313.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,778 shares of the pipeline company’s stock worth $159,000 after purchasing an additional 4,380 shares during the period. Dividend Assets Capital LLC increased its position in Holly Energy Partners by 360.6% during the 2nd quarter. Dividend Assets Capital LLC now owns 121,171 shares of the pipeline company’s stock worth $3,332,000 after purchasing an additional 94,861 shares during the period. Tortoise Index Solutions LLC boosted its stake in shares of Holly Energy Partners by 17.6% during the 1st quarter. Tortoise Index Solutions LLC now owns 19,389 shares of the pipeline company’s stock worth $523,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in shares of Holly Energy Partners by 8.8% during the 1st quarter. Bollard Group LLC now owns 276,623 shares of the pipeline company’s stock worth $7,466,000 after acquiring an additional 22,428 shares in the last quarter. 31.25% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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