Holly Energy Partners (HEP) Receives New Coverage from Analysts at Credit Suisse Group

Research analysts at Credit Suisse Group began coverage on shares of Holly Energy Partners (NYSE:HEP) in a report released on Thursday, MarketBeat reports. The brokerage set an “underperform” rating on the pipeline company’s stock.

A number of other equities research analysts also recently weighed in on HEP. Zacks Investment Research downgraded Holly Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group dropped their target price on Holly Energy Partners from $39.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Co dropped their target price on Holly Energy Partners from $35.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, October 20th. Scotiabank set a $34.00 target price on Holly Energy Partners and gave the stock a “hold” rating in a report on Saturday, December 9th. Finally, Barclays reissued an “equal weight” rating and set a $35.00 target price on shares of Holly Energy Partners in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Holly Energy Partners has a consensus rating of “Hold” and an average price target of $34.71.

Holly Energy Partners (HEP) traded down $0.27 on Thursday, hitting $33.40. The stock had a trading volume of 229,794 shares, compared to its average volume of 163,333. Holly Energy Partners has a 12 month low of $30.11 and a 12 month high of $38.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $2,165.62, a P/E ratio of 21.55, a P/E/G ratio of 8.52 and a beta of 0.88.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. Holly Energy Partners had a return on equity of 34.29% and a net margin of 34.35%. The company had revenue of $110.40 million during the quarter, compared to the consensus estimate of $113.01 million. During the same quarter last year, the firm earned $0.33 earnings per share. The company’s revenue was up 19.2% on a year-over-year basis. sell-side analysts expect that Holly Energy Partners will post 1.58 EPS for the current year.

In related news, Director Michael Jennings sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $32.51, for a total value of $130,040.00. Following the completion of the transaction, the director now owns 22,978 shares of the company’s stock, valued at $747,014.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan acquired a new position in Holly Energy Partners in the third quarter valued at about $2,891,000. Uniplan Investment Counsel Inc. raised its stake in Holly Energy Partners by 11.2% in the second quarter. Uniplan Investment Counsel Inc. now owns 138,811 shares of the pipeline company’s stock valued at $4,509,000 after purchasing an additional 13,997 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Holly Energy Partners by 23.0% in the third quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock valued at $26,778,000 after purchasing an additional 146,385 shares in the last quarter. Alps Advisors Inc. acquired a new position in Holly Energy Partners in the third quarter valued at about $112,122,000. Finally, Richard C. Young & CO. LTD. raised its stake in Holly Energy Partners by 5.3% in the third quarter. Richard C. Young & CO. LTD. now owns 65,810 shares of the pipeline company’s stock valued at $2,198,000 after purchasing an additional 3,341 shares in the last quarter. 48.60% of the stock is owned by institutional investors and hedge funds.

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About Holly Energy Partners

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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