Holly Energy Partners (NYSE:HEP) Now Covered by StockNews.com

StockNews.com started coverage on shares of Holly Energy Partners (NYSE:HEP) in a report released on Tuesday. The brokerage set a “buy” rating on the pipeline company’s stock.

HEP has been the subject of several other research reports. Citigroup raised their target price on shares of Holly Energy Partners from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Raymond James lowered Holly Energy Partners from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research note on Friday.

Holly Energy Partners Stock Down 1.0 %

Holly Energy Partners stock opened at $21.70 on Tuesday. Holly Energy Partners has a fifty-two week low of $15.51 and a fifty-two week high of $22.29. The company has a market cap of $2.74 billion, a PE ratio of 12.62 and a beta of 0.90. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.15 and a current ratio of 1.15. The business’s 50-day simple moving average is $19.57 and its two-hundred day simple moving average is $18.25.

Holly Energy Partners (NYSE:HEP) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07). Holly Energy Partners had a net margin of 37.97% and a return on equity of 23.48%. The firm had revenue of $139.80 million during the quarter, compared to analysts’ expectations of $145.96 million. During the same quarter in the prior year, the company earned $0.45 EPS. Holly Energy Partners’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that Holly Energy Partners will post 1.89 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ING Groep NV increased its stake in shares of Holly Energy Partners by 110.9% in the 4th quarter. ING Groep NV now owns 129,300 shares of the pipeline company’s stock valued at $2,343,000 after purchasing an additional 68,000 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of Holly Energy Partners by 1.4% during the 1st quarter. Miller Howard Investments Inc. NY now owns 298,419 shares of the pipeline company’s stock worth $5,184,000 after buying an additional 4,043 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Holly Energy Partners during the 4th quarter valued at approximately $45,000. Tortoise Index Solutions LLC grew its stake in Holly Energy Partners by 29.4% in the 4th quarter. Tortoise Index Solutions LLC now owns 55,319 shares of the pipeline company’s stock valued at $1,600,000 after acquiring an additional 12,571 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. grew its stake in Holly Energy Partners by 0.6% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 431,306 shares of the pipeline company’s stock valued at $7,505,000 after acquiring an additional 2,446 shares during the period. Institutional investors and hedge funds own 25.30% of the company’s stock.

Holly Energy Partners Company Profile

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.