$124.50 Million in Sales Expected for Holly Energy Partners, L.P. (HEP) This Quarter

Equities research analysts forecast that Holly Energy Partners, L.P. (NYSE:HEP) will report $124.50 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Holly Energy Partners’ earnings, with the lowest sales estimate coming in at $124.40 million and the highest estimate coming in at $124.60 million. Holly Energy Partners posted sales of $105.63 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.9%. The company is expected to announce its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Holly Energy Partners will report full-year sales of $124.50 million for the current fiscal year, with estimates ranging from $507.70 million to $520.72 million. For the next fiscal year, analysts anticipate that the business will post sales of $531.46 million per share, with estimates ranging from $512.60 million to $555.79 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Holly Energy Partners.

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Holly Energy Partners (NYSE:HEP) last released its earnings results on Tuesday, February 20th. The pipeline company reported $0.56 EPS 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 company had revenue of $129.20 million for the quarter, compared to the consensus estimate of $117.63 million. During the same quarter last year, the business posted $0.40 EPS. Holly Energy Partners’s quarterly revenue was up 11.8% compared to the same quarter last year.

Several brokerages recently issued reports on HEP. Zacks Investment Research downgraded Holly Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Credit Suisse Group began coverage on Holly Energy Partners in a report on Thursday, January 4th. They issued an “underperform” rating and a $28.00 price target on the stock. Jefferies Group began coverage on Holly Energy Partners in a report on Wednesday, January 24th. They issued a “hold” rating and a $28.00 price target on the stock. Barclays reissued an “equal weight” rating and issued a $33.00 price target (down previously from $34.00) on shares of Holly Energy Partners in a report on Wednesday, February 21st. Finally, Goldman Sachs downgraded Holly Energy Partners from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a report on Monday, December 18th. Five analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $32.22.

Several hedge funds and other institutional investors have recently made changes to their positions in HEP. JPMorgan Chase & Co. increased its position in Holly Energy Partners by 23.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 782,074 shares of the pipeline company’s stock valued at $26,778,000 after acquiring an additional 146,385 shares during the period. Alps Advisors Inc. increased its position in Holly Energy Partners by 2.3% in the 4th quarter. Alps Advisors Inc. now owns 3,435,116 shares of the pipeline company’s stock valued at $111,607,000 after acquiring an additional 78,176 shares during the period. Deutsche Bank AG increased its position in Holly Energy Partners by 7,782.3% in the 4th quarter. Deutsche Bank AG now owns 70,941 shares of the pipeline company’s stock valued at $2,304,000 after acquiring an additional 70,041 shares during the period. Green Square Capital LLC acquired a new stake in Holly Energy Partners in the 4th quarter valued at approximately $2,166,000. Finally, Cadence Capital Management LLC acquired a new stake in Holly Energy Partners in the 4th quarter valued at approximately $1,688,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Holly Energy Partners (NYSE:HEP) opened at $26.50 on Monday. The stock has a market capitalization of $2,789.63, a P/E ratio of 13.95, a P/E/G ratio of 14.45 and a beta of 0.75. Holly Energy Partners has a 1-year low of $26.48 and a 1-year high of $37.56. The company has a debt-to-equity ratio of 3.11, a current ratio of 1.34 and a quick ratio of 1.34.

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Holly Energy Partners 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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