Zacks Investment Research cut shares of Holly Energy Partners (NYSE:HEP) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “

Several other equities analysts have also weighed in on HEP. ValuEngine lowered shares of Holly Energy Partners from a sell rating to a strong sell rating in a research report on Monday, July 2nd. Scotiabank reaffirmed a hold rating and set a $33.00 price objective on shares of Holly Energy Partners in a research report on Monday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of Holly Energy Partners from $31.00 to $30.00 and set an underweight rating on the stock in a research report on Friday, August 24th. Finally, Barclays lowered shares of Holly Energy Partners from an equal weight rating to an underweight rating and cut their price objective for the company from $30.00 to $28.00 in a research report on Tuesday, September 25th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of Hold and a consensus target price of $31.11.

Shares of HEP stock traded down $0.37 during trading on Wednesday, hitting $30.73. 242,857 shares of the company were exchanged, compared to its average volume of 184,838. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $3.32 billion, a P/E ratio of 17.46 and a beta of 0.91. Holly Energy Partners has a twelve month low of $26.08 and a twelve month high of $35.84.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Wednesday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.03). The company had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. Holly Energy Partners had a return on equity of 34.10% and a net margin of 44.01%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Sell-side analysts predict that Holly Energy Partners will post 1.73 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in shares of Holly Energy Partners in the third quarter valued at approximately $122,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Holly Energy Partners in the second quarter valued at approximately $230,000. Virtu Financial LLC bought a new position in shares of Holly Energy Partners in the second quarter valued at approximately $250,000. Truvestments Capital LLC bought a new position in shares of Holly Energy Partners in the second quarter valued at approximately $345,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Holly Energy Partners by 40.7% in the first quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock valued at $667,000 after purchasing an additional 6,996 shares during the period. 31.27% of the stock is currently owned by institutional investors.

About Holly Energy Partners

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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