Holly Energy Partners, L.P. (NYSE:HEP) was the target of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 1,550,000 shares, a decline of 10.4% from the November 14th total of 1,730,000 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily trading volume, of 466,300 shares, the short-interest ratio is presently 3.3 days.
Holly Energy Partners stock traded down $0.29 during trading hours on Friday, hitting $22.06. The company had a trading volume of 1,022,300 shares, compared to its average volume of 249,295. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $2.36 billion, a P/E ratio of 12.98, a P/E/G ratio of 12.27 and a beta of 0.71. The company has a 50-day moving average price of $22.59 and a two-hundred day moving average price of $25.71. Holly Energy Partners has a 1 year low of $20.81 and a 1 year high of $31.23.
Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Wednesday, October 30th. The pipeline company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Holly Energy Partners had a net margin of 42.47% and a return on equity of 40.22%. The firm had revenue of $135.90 million during the quarter, compared to the consensus estimate of $129.88 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Holly Energy Partners will post 1.83 EPS for the current year.
HEP has been the topic of a number of analyst reports. UBS Group cut their target price on Holly Energy Partners from $28.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. TheStreet downgraded Holly Energy Partners from a “b-” rating to a “c+” rating in a research report on Friday, October 11th. Cfra upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Zacks Investment Research downgraded Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Finally, Credit Suisse Group downgraded Holly Energy Partners from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $31.00 to $24.00 in a research report on Monday, August 19th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Holly Energy Partners has a consensus rating of “Sell” and a consensus price target of $24.77.
Holly Energy Partners Company Profile
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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