Holly Energy Partners, L.P. (HEP) Expected to Announce Earnings of $0.41 Per Share

Equities research analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to post $0.41 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Holly Energy Partners’ earnings, with estimates ranging from $0.34 to $0.43. Holly Energy Partners posted earnings per share of $0.32 in the same quarter last year, which would indicate a positive year over year growth rate of 28.1%. The business is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, May 1st.

On average, analysts expect that Holly Energy Partners will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.82 to $1.87. For the next financial year, analysts forecast that the company will post earnings of $1.92 per share, with EPS estimates ranging from $1.83 to $2.01. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, February 20th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.06. Holly Energy Partners had a net margin of 42.93% and a return on equity of 35.81%. The firm had revenue of $129.20 million during the quarter, compared to analyst estimates of $117.63 million. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 11.8% compared to the same quarter last year.



Several equities analysts recently weighed in on HEP shares. Goldman Sachs lowered shares of Holly Energy Partners from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Monday, December 18th. Zacks Investment Research upgraded shares of Holly Energy Partners from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Tuesday, January 16th. Credit Suisse Group started coverage on shares of Holly Energy Partners in a research report on Thursday, January 4th. They set an “underperform” rating and a $28.00 price target for the company. Barclays restated an “equal weight” rating and set a $33.00 price target (down previously from $34.00) on shares of Holly Energy Partners in a research report on Wednesday, February 21st. Finally, Jefferies Group started coverage on shares of Holly Energy Partners in a research report on Wednesday, January 24th. They set a “hold” rating and a $28.00 price target for the company. Six analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $32.00.

NYSE HEP opened at $28.22 on Tuesday. Holly Energy Partners has a 1 year low of $26.08 and a 1 year high of $37.56. The company has a debt-to-equity ratio of 3.11, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $2,997.01, a PE ratio of 16.03, a PEG ratio of 15.45 and a beta of 0.80.

In other Holly Energy Partners news, Director James H. Lee acquired 2,000 shares of the company’s stock in a transaction on Monday, March 26th. The shares were acquired at an average cost of $26.78 per share, with a total value of $53,560.00. Following the completion of the acquisition, the director now directly owns 5,754 shares in the company, valued at $154,092.12. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James H. Lee acquired 1,000 shares of the company’s stock in a transaction on Friday, March 23rd. The shares were acquired at an average cost of $26.89 per share, for a total transaction of $26,890.00. Following the completion of the acquisition, the director now owns 5,754 shares of the company’s stock, valued at $154,725.06. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Holly Energy Partners by 46.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,050 shares of the pipeline company’s stock valued at $197,000 after purchasing an additional 1,927 shares during the last quarter. Strategic Capital Advisers Inc. purchased a new stake in Holly Energy Partners during the fourth quarter valued at about $222,000. Koch Industries Inc. purchased a new stake in Holly Energy Partners during the fourth quarter valued at about $234,000. Virtu Financial LLC purchased a new stake in Holly Energy Partners during the third quarter valued at about $242,000. Finally, Jane Street Group LLC purchased a new stake in Holly Energy Partners during the fourth quarter valued at about $395,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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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.

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