Investment analysts at Credit Suisse Group began coverage on shares of Holly Energy Partners (NYSE:HEP) in a research report issued on Thursday, January 4th, MarketBeat.com reports. The firm set an “underperform” rating and a $28.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective points to a potential downside of 11.78% from the stock’s current price.

Several other equities research analysts have also recently issued reports on HEP. Zacks Investment Research raised Holly Energy Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, October 16th. UBS Group lowered their price target on Holly Energy Partners from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Scotiabank set a $34.00 price target on Holly Energy Partners and gave the stock a “hold” rating in a research report on Friday, October 20th. Wells Fargo & Co lowered their price target on Holly Energy Partners from $35.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, October 20th. Finally, Barclays restated an “equal weight” rating and set a $35.00 price target on shares of Holly Energy Partners in a research report on Friday, November 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.11.

Shares of Holly Energy Partners (NYSE:HEP) opened at $31.74 on Thursday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $2,040.00, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 8.37 and a beta of 0.88. Holly Energy Partners has a one year low of $30.11 and a one year high of $38.09.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.20. The company had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $113.01 million. Holly Energy Partners had a return on equity of 34.29% and a net margin of 34.35%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. equities analysts expect that Holly Energy Partners will post 1.59 EPS for the current year.

In other news, Director Michael Jennings sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $32.51, for a total transaction of $130,040.00. Following the completion of the transaction, the director now directly owns 22,978 shares in the company, valued at $747,014.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in Holly Energy Partners by 477.5% in the second quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock valued at $137,000 after purchasing an additional 3,476 shares during the period. Virtu Financial LLC purchased a new position in Holly Energy Partners in the third quarter valued at $242,000. Royal Bank of Canada boosted its holdings in Holly Energy Partners by 0.5% in the second quarter. Royal Bank of Canada now owns 8,800 shares of the pipeline company’s stock valued at $286,000 after purchasing an additional 45 shares during the period. Alliancebernstein L.P. boosted its holdings in Holly Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,199 shares of the pipeline company’s stock valued at $299,000 after purchasing an additional 515 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Holly Energy Partners in the second quarter valued at $322,000. Hedge funds and other institutional investors own 48.59% of the company’s stock.

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About Holly Energy Partners

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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