Holly Energy Partners (NYSE:HEP) Price Target Raised to $22.00 at Raymond James

Holly Energy Partners (NYSE:HEPGet Rating) had its price target increased by Raymond James from $21.00 to $22.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

HEP has been the topic of several other research reports. StockNews.com began coverage on shares of Holly Energy Partners in a report on Wednesday, October 12th. They issued a hold rating on the stock. Barclays lifted their price target on shares of Holly Energy Partners from $17.00 to $18.00 in a report on Tuesday, January 10th. Finally, Citigroup started coverage on shares of Holly Energy Partners in a report on Thursday, December 8th. They set a neutral rating and a $19.00 target price on the stock.

Holly Energy Partners Stock Performance

NYSE:HEP opened at $19.70 on Monday. The stock has a market cap of $2.49 billion, a P/E ratio of 11.87 and a beta of 0.89. The firm’s fifty day simple moving average is $18.57 and its 200 day simple moving average is $17.98. Holly Energy Partners has a twelve month low of $15.12 and a twelve month high of $20.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.83.

Holly Energy Partners (NYSE:HEPGet Rating) last released its quarterly earnings results on Monday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.16). The company had revenue of $149.00 million during the quarter, compared to the consensus estimate of $139.69 million. Holly Energy Partners had a net margin of 37.05% and a return on equity of 23.54%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. As a group, research analysts predict that Holly Energy Partners will post 1.73 EPS for the current year.

Holly Energy Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Monday, January 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Friday, January 27th. Holly Energy Partners’s dividend payout ratio (DPR) is presently 84.34%.

Institutional Trading of Holly Energy Partners

A number of hedge funds have recently modified their holdings of HEP. BNP Paribas Arbitrage SNC boosted its stake in Holly Energy Partners by 246.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 1,797 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,279 shares in the last quarter. Selective Wealth Management Inc. boosted its stake in Holly Energy Partners by 70.7% in the 2nd quarter. Selective Wealth Management Inc. now owns 3,755 shares of the pipeline company’s stock worth $60,000 after purchasing an additional 1,555 shares in the last quarter. Credit Suisse AG bought a new position in Holly Energy Partners in the 2nd quarter worth about $77,000. Van ECK Associates Corp boosted its stake in Holly Energy Partners by 21.3% in the 2nd quarter. Van ECK Associates Corp now owns 5,481 shares of the pipeline company’s stock worth $88,000 after purchasing an additional 964 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in Holly Energy Partners in the 3rd quarter worth about $170,000. Institutional investors own 25.30% of the company’s stock.

About Holly Energy Partners

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Holly Energy Partners, L.P. provides petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry in the United States. It operates through two segments, Pipelines and Terminals, and Refinery Processing Unit. The company operates refined product pipelines that transport conventional gasolines, reformulated gasolines, and low-octane gasolines for oxygenate blending, as well as sulfur diesel and jet fuels, and liquefied petroleum gases; intermediate product pipelines that transport intermediate feedstocks and crude oils; and oil trunk, gathering, and connection pipelines that delivers crude oil.

Further Reading

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