Holly Energy Partners, L.P. (HEP) Expected to Announce Earnings of $0.45 Per Share

Brokerages predict that Holly Energy Partners, L.P. (NYSE:HEP) will announce earnings per share (EPS) of $0.45 for the current quarter, Zacks reports. Three analysts have made estimates for Holly Energy Partners’ earnings, with estimates ranging from $0.42 to $0.47. Holly Energy Partners reported earnings per share of $0.56 in the same quarter last year, which suggests a negative year-over-year growth rate of 19.6%. The firm is expected to announce its next earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Holly Energy Partners will report full year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.71. For the next year, analysts anticipate that the business will post earnings of $1.82 per share, with EPS estimates ranging from $1.80 to $1.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last announced its earnings results on Tuesday, October 30th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $125.80 million during the quarter, compared to analysts’ expectations of $125.79 million. Holly Energy Partners had a net margin of 43.25% and a return on equity of 33.48%. Holly Energy Partners’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share.

HEP has been the subject of several recent research reports. Scotiabank reaffirmed a “hold” rating on shares of Holly Energy Partners in a research note on Tuesday, November 20th. Zacks Investment Research upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Credit Suisse Group assumed coverage on Holly Energy Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $33.00 price target on the stock. ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Barclays lowered Holly Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $30.00 to $28.00 in a research report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.75.

Shares of NYSE HEP opened at $28.13 on Monday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 15.98 and a beta of 0.94. Holly Energy Partners has a 12 month low of $26.08 and a 12 month high of $34.62.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Monday, October 29th were paid a $0.665 dividend. This is a boost from Holly Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.66 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date of this dividend was Friday, October 26th. Holly Energy Partners’s payout ratio is 151.14%.

In other news, Director Michael Jennings sold 5,000 shares of Holly Energy Partners stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $28.82, for a total value of $144,100.00. Following the sale, the director now directly owns 18,877 shares in the company, valued at approximately $544,035.14. The sale was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Holly Energy Partners in the third quarter worth $122,000. Northern Oak Wealth Management Inc. increased its position in Holly Energy Partners by 80.6% during the third quarter. Northern Oak Wealth Management Inc. now owns 5,600 shares of the pipeline company’s stock valued at $176,000 after acquiring an additional 2,500 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Holly Energy Partners in the third quarter worth about $207,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Holly Energy Partners in the second quarter worth about $230,000. Finally, Private Advisor Group LLC purchased a new stake in Holly Energy Partners in the third quarter worth about $238,000. Institutional investors own 32.28% of the company’s stock.

About Holly Energy Partners

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.

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