Holly Energy Partners (NYSE:HEP) Trading 8.8% Higher

Holly Energy Partners, L.P. (NYSE:HEP) shares traded up 8.8% during trading on Friday . The stock traded as high as $23.49 and last traded at $23.13, 1,027,039 shares changed hands during trading. An increase of 340% from the average session volume of 233,297 shares. The stock had previously closed at $21.26.

Several research analysts have recently commented on the stock. ValuEngine upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet lowered shares of Holly Energy Partners from a “b-” rating to a “c+” rating in a research note on Friday, October 11th. UBS Group dropped their price target on shares of Holly Energy Partners from $28.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday. Raymond James lowered shares of Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 target price on the stock. in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered shares of Holly Energy Partners from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $31.00 to $24.00 in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Holly Energy Partners currently has an average rating of “Hold” and an average target price of $24.77.

The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 11.86 and a beta of 0.72. The firm’s 50-day simple moving average is $25.14 and its 200-day simple moving average is $27.03.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $130.80 million for the quarter, compared to analyst estimates of $128.07 million. Holly Energy Partners had a net margin of 36.16% and a return on equity of 37.40%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Equities research analysts forecast that Holly Energy Partners, L.P. will post 1.84 earnings per share for the current year.

In other Holly Energy Partners news, Director Eric L. Mattson sold 2,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.55, for a total value of $55,100.00. Following the sale, the director now directly owns 4,198 shares in the company, valued at approximately $115,654.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC lifted its holdings in shares of Holly Energy Partners by 5.3% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,900 shares of the pipeline company’s stock worth $217,000 after acquiring an additional 400 shares during the period. Cadence Capital Management LLC lifted its holdings in Holly Energy Partners by 0.4% during the 2nd quarter. Cadence Capital Management LLC now owns 145,141 shares of the pipeline company’s stock valued at $3,991,000 after purchasing an additional 576 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Holly Energy Partners by 7.6% during the 2nd quarter. Private Advisor Group LLC now owns 9,446 shares of the pipeline company’s stock valued at $260,000 after purchasing an additional 667 shares during the last quarter. Infrastructure Capital Advisors LLC lifted its holdings in Holly Energy Partners by 5.8% during the 2nd quarter. Infrastructure Capital Advisors LLC now owns 12,934 shares of the pipeline company’s stock valued at $359,000 after purchasing an additional 712 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Holly Energy Partners by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 26,735 shares of the pipeline company’s stock valued at $735,000 after purchasing an additional 842 shares during the last quarter. 30.86% of the stock is owned by institutional investors.

Holly Energy Partners Company Profile (NYSE:HEP)

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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