Holly Energy Partners, L.P. (HEP) Cut to Sell at BidaskClub

Holly Energy Partners, L.P. (NYSE:HEP) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Holly Energy Partners, L.P. from a “sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, April 25th. Scotiabank reiterated a “hold” rating and issued a $34.00 price objective on shares of Holly Energy Partners, L.P. in a research note on Thursday, April 27th. Finally, Bank of America Corporation lowered shares of Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $39.00 to $36.00 in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Holly Energy Partners, L.P. has a consensus rating of “Hold” and an average price target of $36.75.

Holly Energy Partners, L.P. (HEP) traded up 0.48% during midday trading on Thursday, reaching $33.47. The company had a trading volume of 5,885 shares. Holly Energy Partners, L.P. has a 12 month low of $29.53 and a 12 month high of $38.09. The firm has a 50-day moving average of $33.43 and a 200-day moving average of $34.59. The stock has a market cap of $2.15 billion, a P/E ratio of 27.75 and a beta of 0.86.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.12. The firm had revenue of $109.14 million during the quarter, compared to analysts’ expectations of $113.12 million. Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. On average, equities analysts expect that Holly Energy Partners, L.P. will post $1.47 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the company. Penserra Capital Management LLC raised its stake in shares of Holly Energy Partners, L.P. by 424.8% in the second quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock valued at $123,000 after buying an additional 3,101 shares during the last quarter. Creative Planning raised its position in Holly Energy Partners, L.P. by 17.0% in the second quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock worth $175,000 after buying an additional 782 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Holly Energy Partners, L.P. by 72.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock worth $194,000 after buying an additional 2,286 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in Holly Energy Partners, L.P. during the first quarter worth $211,000. Finally, Proficio Capital Partners LLC acquired a new position in Holly Energy Partners, L.P. during the first quarter worth $218,000. Institutional investors own 47.73% of the company’s stock.

Holly Energy Partners, L.P. 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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