Holly Energy Partners, L.P. (HEP) Expected to Announce Earnings of $0.40 Per Share

Equities analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to post earnings per share (EPS) of $0.40 for the current quarter, according to Zacks. Two analysts have provided estimates for Holly Energy Partners’ earnings, with estimates ranging from $0.34 to $0.43. Holly Energy Partners reported earnings per share of $0.32 in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is scheduled to issue its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Holly Energy Partners will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.82 to $1.86. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.90 per share, with EPS estimates ranging from $1.83 to $2.01. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Holly Energy Partners.

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Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Tuesday, February 20th. The pipeline company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Holly Energy Partners had a return on equity of 35.81% and a net margin of 42.93%. The business had revenue of $129.20 million for the quarter, compared to the consensus estimate of $117.63 million. During the same period in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis.

HEP has been the topic of a number of research reports. Zacks Investment Research raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, January 16th. Barclays reaffirmed an “equal weight” rating and set a $33.00 price target (down from $34.00) on shares of Holly Energy Partners in a research note on Wednesday, February 21st. Scotiabank set a $34.00 price target on Holly Energy Partners and gave the stock a “hold” rating in a research note on Saturday, December 9th. Jefferies Group initiated coverage on Holly Energy Partners in a research note on Wednesday, January 24th. They set a “hold” rating and a $28.00 price target on the stock. Finally, UBS reaffirmed a “neutral” rating and set a $30.00 price target (down from $33.00) on shares of Holly Energy Partners in a research note on Friday, March 2nd. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.22.

HEP stock opened at $26.50 on Friday. Holly Energy Partners has a 52 week low of $26.48 and a 52 week high of $37.56. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $2,935.95, a P/E ratio of 12.56, a P/E/G ratio of 15.21 and a beta of 0.75.

Institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Holly Energy Partners by 46.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,050 shares of the pipeline company’s stock worth $197,000 after purchasing an additional 1,927 shares during the last quarter. Strategic Capital Advisers Inc. purchased a new stake in shares of Holly Energy Partners in the fourth quarter worth approximately $222,000. Koch Industries Inc. purchased a new stake in shares of Holly Energy Partners in the fourth quarter worth approximately $234,000. Virtu Financial LLC purchased a new stake in shares of Holly Energy Partners in the third quarter worth approximately $242,000. Finally, Jane Street Group LLC purchased a new stake in shares of Holly Energy Partners in the fourth quarter worth approximately $395,000. 28.79% of the stock is owned by hedge funds and other institutional investors.

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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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