Brokers Offer Predictions for Holly Energy Partners, L.P.’s Q3 2018 Earnings (HEP)

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Holly Energy Partners, L.P. (NYSE:HEP) – Equities research analysts at Jefferies Financial Group issued their Q3 2018 earnings estimates for shares of Holly Energy Partners in a report released on Tuesday, October 16th. Jefferies Financial Group analyst C. Sighinolfi forecasts that the pipeline company will post earnings of $0.42 per share for the quarter. Jefferies Financial Group also issued estimates for Holly Energy Partners’ Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.66 EPS, FY2019 earnings at $1.81 EPS, FY2020 earnings at $1.81 EPS, FY2021 earnings at $1.82 EPS and FY2022 earnings at $1.91 EPS.

A number of other analysts also recently weighed in on HEP. Zacks Investment Research downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of Holly Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Credit Suisse Group initiated coverage on shares of Holly Energy Partners in a research report on Thursday, October 11th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Barclays downgraded shares of Holly Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $30.00 to $28.00 in a research report on Tuesday, September 25th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $31.11.

NYSE:HEP opened at $30.68 on Thursday. The stock has a market capitalization of $3.32 billion, a PE ratio of 17.40 and a beta of 0.91. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.50. Holly Energy Partners has a 1-year low of $26.08 and a 1-year high of $35.84.

Holly Energy Partners (NYSE:HEP) last released its earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). The business had revenue of $118.76 million during the quarter, compared to analysts’ expectations of $123.41 million. Holly Energy Partners had a return on equity of 34.10% and a net margin of 44.01%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share.

A number of hedge funds have recently made changes to their positions in the stock. United Capital Financial Advisers LLC grew its position in Holly Energy Partners by 4.1% during the 1st quarter. United Capital Financial Advisers LLC now owns 47,341 shares of the pipeline company’s stock valued at $1,305,000 after purchasing an additional 1,873 shares during the last quarter. Bank of Montreal Can purchased a new stake in Holly Energy Partners during the 3rd quarter valued at about $122,000. Groesbeck Investment Management Corp NJ grew its position in Holly Energy Partners by 3.5% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 128,329 shares of the pipeline company’s stock valued at $3,627,000 after purchasing an additional 4,363 shares during the last quarter. Global X Management Co LLC grew its position in Holly Energy Partners by 15.3% during the 2nd quarter. Global X Management Co LLC now owns 32,923 shares of the pipeline company’s stock valued at $930,000 after purchasing an additional 4,363 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Holly Energy Partners by 40.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock valued at $667,000 after purchasing an additional 6,996 shares during the last quarter. 31.26% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Holly Energy Partners (NYSE:HEP)

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