Wall Street analysts predict that Holly Energy Partners, L.P. (NYSE:HEP) will announce sales of $130.37 million for the current quarter, according to Zacks. Three analysts have made estimates for Holly Energy Partners’ earnings, with the highest sales estimate coming in at $133.48 million and the lowest estimate coming in at $126.70 million. Holly Energy Partners posted sales of $129.22 million in the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The company is expected to issue its next earnings results on Tuesday, February 19th.
On average, analysts expect that Holly Energy Partners will report full-year sales of $504.54 million for the current financial year, with estimates ranging from $500.90 million to $506.91 million. For the next fiscal year, analysts forecast that the business will report sales of $526.75 million, with estimates ranging from $519.70 million to $531.76 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Holly Energy Partners.
Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Tuesday, October 30th. The pipeline company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Holly Energy Partners had a net margin of 43.25% and a return on equity of 33.48%. The firm had revenue of $125.80 million during the quarter, compared to analysts’ expectations of $125.79 million. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue was up 13.9% on a year-over-year basis.
A number of equities research analysts have issued reports on HEP shares. ValuEngine downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Zacks Investment Research downgraded shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, August 27th. Barclays downgraded shares of Holly Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $30.00 to $28.00 in a report on Tuesday, September 25th. Scotiabank restated a “hold” rating on shares of Holly Energy Partners in a report on Tuesday, November 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating on the stock in a report on Friday, August 24th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.75.
In related news, Director Michael Jennings sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the director now directly owns 18,877 shares in the company, valued at approximately $544,035.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.
A number of large investors have recently bought and sold shares of HEP. Alps Advisors Inc. grew its position in Holly Energy Partners by 4.3% in the 2nd quarter. Alps Advisors Inc. now owns 3,435,116 shares of the pipeline company’s stock worth $111,607,000 after purchasing an additional 140,508 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Holly Energy Partners by 30.8% during the 2nd quarter. First Trust Advisors LP now owns 239,576 shares of the pipeline company’s stock valued at $6,770,000 after acquiring an additional 56,398 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Holly Energy Partners by 1.1% during the 2nd 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 acquiring an additional 73,625 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Holly Energy Partners during the 2nd quarter valued at about $918,000. Finally, Cadence Capital Management LLC boosted its position in shares of Holly Energy Partners by 41.0% during the 2nd quarter. Cadence Capital Management LLC now owns 90,755 shares of the pipeline company’s stock valued at $2,565,000 after acquiring an additional 26,395 shares in the last quarter. Institutional investors and hedge funds own 32.16% of the company’s stock.
HEP stock traded up $0.03 during midday trading on Wednesday, reaching $28.45. The company had a trading volume of 387,286 shares, compared to its average volume of 127,061. Holly Energy Partners has a 1 year low of $26.08 and a 1 year high of $34.62. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.64. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 16.16 and a beta of 0.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were paid a $0.665 dividend. The ex-dividend date was Friday, October 26th. This is a positive change from Holly Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.66 dividend on an annualized basis and a yield of 9.35%. Holly Energy Partners’s dividend payout ratio (DPR) is presently 151.14%.
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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