Holly Energy Partners (NYSE:HEP) Research Coverage Started at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Holly Energy Partners (NYSE:HEP – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the pipeline company’s stock.

Holly Energy Partners Trading Down 0.8 %

Shares of Holly Energy Partners stock opened at $17.70 on Thursday. The company has a fifty day simple moving average of $17.04 and a 200-day simple moving average of $18.03. Holly Energy Partners has a 12-month low of $15.12 and a 12-month high of $20.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.70. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 10.00 and a beta of 0.90.

Holly Energy Partners (NYSE:HEP – Get Rating) last issued its earnings results on Thursday, May 4th. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Holly Energy Partners had a net margin of 39.39% and a return on equity of 24.44%. The business had revenue of $143.30 million during the quarter, compared to analysts’ expectations of $124.62 million. During the same quarter in the prior year, the business posted $0.45 EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts forecast that Holly Energy Partners will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Holly Energy Partners

A number of large investors have recently bought and sold shares of HEP. Advisor Group Holdings Inc. increased its holdings in Holly Energy Partners by 13.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 4,787 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 579 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Holly Energy Partners by 5.6% during the 1st quarter. Apollon Wealth Management LLC now owns 13,578 shares of the pipeline company’s stock worth $236,000 after purchasing an additional 725 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Holly Energy Partners by 0.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 294,376 shares of the pipeline company’s stock worth $5,334,000 after purchasing an additional 819 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Holly Energy Partners by 4.2% during the 2nd quarter. LPL Financial LLC now owns 22,341 shares of the pipeline company’s stock worth $358,000 after purchasing an additional 903 shares during the last quarter. Finally, Tortoise Index Solutions LLC boosted its position in shares of Holly Energy Partners by 2.2% in the third quarter. Tortoise Index Solutions LLC now owns 42,748 shares of the pipeline company’s stock worth $701,000 after acquiring an additional 903 shares during the last quarter. Hedge funds and other institutional investors own 25.30% of the company’s stock.

About Holly Energy Partners

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Holly Energy Partners LP engages in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities. It operates through the Pipelines and Terminals, and Refinery Processing Unit segments. The Pipelines and Terminals segment includes petroleum products, crude pipelines and terminal, tankage, and loading rack facilities.