Holly Energy Partners (NYSE:HEP) had its target price lowered by investment analysts at UBS Group from $28.00 to $22.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the pipeline company’s stock. UBS Group’s price objective suggests a potential downside of 4.89% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, October 2nd. Credit Suisse Group downgraded Holly Energy Partners from a “neutral” rating to an “underperform” rating and cut their target price for the company from $31.00 to $24.00 in a research report on Monday, August 19th. ValuEngine raised Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet downgraded Holly Energy Partners from a “b-” rating to a “c+” rating in a research report on Friday, October 11th. Finally, Raymond James downgraded Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 target price on the stock. in a research report on Wednesday, June 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.77.
Shares of NYSE HEP traded up $1.87 during mid-day trading on Thursday, hitting $23.13. The stock had a trading volume of 1,027,039 shares, compared to its average volume of 686,947. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average of $25.14 and a two-hundred day moving average of $27.03. Holly Energy Partners has a twelve month low of $20.81 and a twelve month high of $31.63. The firm has a market cap of $2.24 billion, a PE ratio of 13.61, a PEG ratio of 11.53 and a beta of 0.72.
Holly Energy Partners (NYSE:HEP) last released its earnings results on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Holly Energy Partners had a return on equity of 37.40% and a net margin of 36.16%. The firm had revenue of $130.80 million for the quarter, compared to the consensus estimate of $128.07 million. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Holly Energy Partners will post 1.84 EPS for the current fiscal year.
In other Holly Energy Partners news, Director Eric L. Mattson sold 2,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $27.55, for a total transaction of $55,100.00. Following the sale, the director now directly owns 4,198 shares of the company’s stock, valued at approximately $115,654.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HEP. HM Payson & Co. acquired a new stake in Holly Energy Partners during the 2nd quarter worth about $38,000. NEXT Financial Group Inc purchased a new stake in shares of Holly Energy Partners during the 2nd quarter worth about $41,000. North Star Investment Management Corp. purchased a new stake in shares of Holly Energy Partners during the 3rd quarter worth about $45,000. Aperio Group LLC purchased a new stake in shares of Holly Energy Partners during the 2nd quarter worth about $109,000. Finally, Advisor Group Inc. boosted its stake in shares of Holly Energy Partners by 64.3% during the 2nd quarter. Advisor Group Inc. now owns 4,948 shares of the pipeline company’s stock worth $137,000 after acquiring an additional 1,936 shares in the last quarter. 30.86% of the stock is currently owned by institutional investors.
Holly Energy Partners Company Profile
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.
Further Reading: Should I follow buy, hold and sell recommendations?
Receive News & Ratings for Holly Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.