Holly Energy Partners, L.P. (HEP) Rating Lowered to Neutral at UBS AG

Holly Energy Partners, L.P. (NYSE:HEP) was downgraded by UBS AG from a “buy” rating to a “neutral” rating in a research note issued on Friday. They presently have a $36.00 price target on the pipeline company’s stock. UBS AG’s price objective points to a potential upside of 5.85% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Scotiabank set a $34.00 target price on Holly Energy Partners, L.P. and gave the stock a “hold” rating in a research report on Friday, July 21st. Zacks Investment Research raised Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut Holly Energy Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Wells Fargo & Company cut their price objective on Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.60.

Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded down $0.15 during mid-day trading on Friday, reaching $34.01. The company had a trading volume of 127,826 shares, compared to its average volume of 143,014. The company has a market capitalization of $2,187.49, a PE ratio of 19.55, a P/E/G ratio of 7.18 and a beta of 0.89. Holly Energy Partners, L.P. has a 52-week low of $29.58 and a 52-week high of $38.09. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.35 and a current ratio of 1.35.

Holly Energy Partners, L.P. (NYSE:HEP) last issued its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.46 by $0.20. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $113.01 million. Holly Energy Partners, L.P. had a return on equity of 34.00% and a net margin of 34.35%. Holly Energy Partners, L.P.’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. research analysts anticipate that Holly Energy Partners, L.P. will post 1.58 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Uniplan Investment Counsel Inc. increased its position in Holly Energy Partners, L.P. by 11.2% in the second quarter. Uniplan Investment Counsel Inc. now owns 138,811 shares of the pipeline company’s stock worth $4,509,000 after purchasing an additional 13,997 shares during the period. Ameriprise Financial Inc. acquired a new stake in Holly Energy Partners, L.P. in the first quarter worth about $351,000. Morgan Stanley increased its position in Holly Energy Partners, L.P. by 9.4% in the first quarter. Morgan Stanley now owns 415,147 shares of the pipeline company’s stock worth $14,825,000 after purchasing an additional 35,828 shares during the period. Weaver C. Barksdale & Associates Inc. increased its position in Holly Energy Partners, L.P. by 2.0% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 41,922 shares of the pipeline company’s stock worth $1,362,000 after purchasing an additional 833 shares during the period. Finally, Penserra Capital Management LLC increased its position in 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 worth $123,000 after purchasing an additional 3,101 shares during the period. Hedge funds and other institutional investors own 46.10% 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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