Research analysts at Credit Suisse Group began coverage on shares of Holly Energy Partners (NYSE:HEP) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $33.00 price target on the pipeline company’s stock. Credit Suisse Group’s target price suggests a potential upside of 7.39% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Scotiabank restated a “hold” rating and set a $33.00 price target on shares of Holly Energy Partners in a report on Monday, August 20th. ValuEngine upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research cut shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a report on Friday, August 24th. Finally, Barclays cut shares of Holly Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $30.00 to $28.00 in a research note on Tuesday, September 25th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.11.

HEP stock traded down $0.37 during mid-day trading on Thursday, reaching $30.73. 242,857 shares of the stock traded hands, compared to its average volume of 184,838. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.12 and a quick ratio of 1.12. Holly Energy Partners has a 52 week low of $26.08 and a 52 week high of $35.84. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 17.46 and a beta of 0.91.

Holly Energy Partners (NYSE:HEP) last released its quarterly earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). Holly Energy Partners had a net margin of 44.01% and a return on equity of 34.10%. The firm had revenue of $118.76 million for the quarter, compared to the consensus estimate of $123.41 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Holly Energy Partners will post 1.73 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Holly Energy Partners by 1.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,652,705 shares of the pipeline company’s stock valued at $188,005,000 after buying an additional 73,625 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Holly Energy Partners by 6.7% in the second quarter. OppenheimerFunds Inc. now owns 6,491,090 shares of the pipeline company’s stock valued at $183,438,000 after buying an additional 406,275 shares during the period. Alps Advisors Inc. lifted its stake in shares of Holly Energy Partners by 15.4% in the second quarter. Alps Advisors Inc. now owns 3,803,218 shares of the pipeline company’s stock valued at $107,479,000 after buying an additional 508,610 shares during the period. UBS Group AG lifted its stake in shares of Holly Energy Partners by 5.1% in the first quarter. UBS Group AG now owns 1,800,536 shares of the pipeline company’s stock valued at $49,641,000 after buying an additional 87,150 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Holly Energy Partners by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 784,021 shares of the pipeline company’s stock valued at $21,616,000 after buying an additional 36,192 shares during the period. Institutional investors and hedge funds own 31.27% of the company’s stock.

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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Analyst Recommendations for Holly Energy Partners (NYSE:HEP)

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