Analysts Expect Holly Energy Partners, L.P. (NYSE:HEP) Will Post Quarterly Sales of $125.30 Million

Wall Street analysts expect Holly Energy Partners, L.P. (NYSE:HEPGet Rating) to announce sales of $125.30 million for the current quarter, according to Zacks. Two analysts have made estimates for Holly Energy Partners’ earnings. The highest sales estimate is $126.42 million and the lowest is $124.17 million. Holly Energy Partners reported sales of $126.24 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.7%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Holly Energy Partners will report full-year sales of $493.59 million for the current fiscal year, with estimates ranging from $483.09 million to $504.08 million. For the next fiscal year, analysts forecast that the company will report sales of $504.03 million, with estimates ranging from $478.16 million to $529.89 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Holly Energy Partners.

Holly Energy Partners (NYSE:HEPGet Rating) last issued its quarterly earnings results on Monday, May 9th. The pipeline company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $117.25 million. Holly Energy Partners had a return on equity of 29.60% and a net margin of 41.05%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS.

Several research firms recently commented on HEP. Raymond James dropped their target price on Holly Energy Partners from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. StockNews.com cut Holly Energy Partners from a “buy” rating to a “hold” rating in a research report on Friday, April 1st. Zacks Investment Research upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. TheStreet cut shares of Holly Energy Partners from a “b-” rating to a “c” rating in a research report on Tuesday, March 15th. Finally, Barclays cut their target price on shares of Holly Energy Partners from $17.00 to $15.00 in a research note on Thursday, February 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Holly Energy Partners presently has a consensus rating of “Hold” and an average target price of $19.67.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of Holly Energy Partners by 3.5% during the 4th quarter. Alps Advisors Inc. now owns 5,947,463 shares of the pipeline company’s stock worth $98,074,000 after purchasing an additional 202,307 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Holly Energy Partners by 14.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,962,334 shares of the pipeline company’s stock worth $65,339,000 after acquiring an additional 504,763 shares during the period. Invesco Ltd. boosted its holdings in Holly Energy Partners by 0.6% in the 1st quarter. Invesco Ltd. now owns 3,322,137 shares of the pipeline company’s stock worth $58,769,000 after acquiring an additional 19,400 shares during the period. UBS Group AG raised its position in shares of Holly Energy Partners by 8.9% in the 1st quarter. UBS Group AG now owns 942,962 shares of the pipeline company’s stock valued at $16,681,000 after purchasing an additional 77,033 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Holly Energy Partners by 21.7% during the 1st quarter. JPMorgan Chase & Co. now owns 937,282 shares of the pipeline company’s stock valued at $16,581,000 after acquiring an additional 167,049 shares in the last quarter.

HEP opened at $18.01 on Tuesday. The business’s 50 day moving average is $17.64 and its two-hundred day moving average is $17.49. Holly Energy Partners has a 52 week low of $15.61 and a 52 week high of $23.69. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 9.63 and a beta of 0.87. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.90.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Monday, May 2nd were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.77%. The ex-dividend date of this dividend was Friday, April 29th. Holly Energy Partners’s dividend payout ratio is currently 74.87%.

Holly Energy Partners Company Profile (Get Rating)

Holly Energy Partners, L.P. provides petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry in the United States. It operates through two segments, Pipelines and Terminals, and Refinery Processing Unit. The company operates refined product pipelines that transport conventional gasolines, reformulated gasolines, and low-octane gasolines for oxygenate blending, as well as sulfur diesel and jet fuels, and liquefied petroleum gases; intermediate product pipelines that transport intermediate feedstocks and crude oils; and oil trunk, gathering, and connection pipelines that delivers crude oil.

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