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

StockNews.com began coverage on shares of Holly Energy Partners (NYSE:HEP) in a report issued on Thursday morning. The firm issued a buy rating on the pipeline company’s stock.

HEP has been the topic of several other reports. Raymond James cut Holly Energy Partners from an outperform rating to a market perform rating and set a $21.00 target price on the stock. in a research report on Friday, August 25th. Citigroup raised their target price on Holly Energy Partners from $17.00 to $22.00 and gave the company a neutral rating in a research report on Thursday, August 17th.

Holly Energy Partners Stock Down 0.3 %

Shares of Holly Energy Partners stock opened at $23.28 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.65. The business’s 50 day simple moving average is $20.65 and its 200-day simple moving average is $18.59. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.53 and a beta of 0.90. Holly Energy Partners has a twelve month low of $15.51 and a twelve month high of $23.62.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.40 EPS for the quarter, missing the consensus estimate 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 business had revenue of $139.80 million during the quarter, compared to analyst estimates of $145.96 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Holly Energy Partners will post 1.89 earnings per share for the current year.

Holly Energy Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, July 31st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date was Friday, July 28th. Holly Energy Partners’s payout ratio is currently 81.40%.

Hedge Funds Weigh In On Holly Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its stake in shares of Holly Energy Partners by 13.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 4,787 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 579 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Holly Energy Partners by 13.1% during the 2nd quarter. Van ECK Associates Corp now owns 5,093 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 588 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Holly Energy Partners by 5.6% during the 1st quarter. Apollon Wealth Management LLC now owns 13,578 shares of the pipeline company’s stock worth $236,000 after acquiring an additional 725 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Holly Energy Partners by 4.2% during the 2nd quarter. LPL Financial LLC now owns 22,341 shares of the pipeline company’s stock worth $358,000 after acquiring an additional 903 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Holly Energy Partners by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 20,600 shares of the pipeline company’s stock worth $330,000 after acquiring an additional 1,000 shares in the last quarter. 25.30% of the stock is owned by institutional investors.

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.