Holly Energy Partners (HEP) Coverage Initiated by Analysts at JPMorgan Chase

JPMorgan Chase assumed coverage on shares of Holly Energy Partners (NYSE:HEP) in a research note published on Friday. The brokerage issued an underweight rating and a $30.00 price objective on the pipeline company’s stock.

Several other brokerages have also weighed in on HEP. UBS reissued a neutral rating and set a $30.00 price objective (down from $33.00) on shares of Holly Energy Partners in a report on Friday, March 2nd. Zacks Investment Research lowered Holly Energy Partners from a strong-buy rating to a hold rating in a report on Wednesday, January 3rd. 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 for the company. 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 for the company. Finally, Barclays reaffirmed an equal weight rating and issued a $33.00 price target (down from $34.00) on shares of Holly Energy Partners in a report on Wednesday, February 21st. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of Sell and an average target price of $32.00.

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NYSE HEP traded down $0.49 on Friday, hitting $27.35. 138,162 shares of the stock traded hands, compared to its average volume of 191,694. Holly Energy Partners has a 12 month low of $26.08 and a 12 month high of $37.56. The firm has a market cap of $2,930.69, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 15.19 and a beta of 0.80. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.11.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings data on Tuesday, February 20th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $117.63 million. During the same period in the prior year, the company earned $0.40 earnings per share. Holly Energy Partners’s revenue was up 11.8% compared to the same quarter last year. analysts forecast that Holly Energy Partners will post 1.83 EPS for the current year.

In other Holly Energy Partners news, Director James H. Lee acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was bought at an average price of $26.89 per share, with a total value of $26,890.00. Following the completion of the purchase, the director now owns 5,754 shares of the company’s stock, valued at $154,725.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Lee acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The shares were acquired at an average cost of $26.78 per share, with a total value of $53,560.00. Following the purchase, the director now directly owns 5,754 shares of the company’s stock, valued at approximately $154,092.12. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Green Square Capital LLC bought a new stake in Holly Energy Partners during the fourth quarter valued at $2,166,000. Glenmede Trust Co. NA boosted its stake in Holly Energy Partners by 26.6% during the fourth quarter. Glenmede Trust Co. NA now owns 62,737 shares of the pipeline company’s stock valued at $2,038,000 after buying an additional 13,200 shares during the period. Jane Street Group LLC purchased a new stake in Holly Energy Partners during the fourth quarter valued at about $395,000. Ladenburg Thalmann Financial Services Inc. raised its position in Holly Energy Partners by 46.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,050 shares of the pipeline company’s stock valued at $197,000 after purchasing an additional 1,927 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Holly Energy Partners by 5.2% during the fourth quarter. Guggenheim Capital LLC now owns 133,682 shares of the pipeline company’s stock valued at $4,343,000 after purchasing an additional 6,617 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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