Brokerages expect Holly Energy Partners, L.P. (NYSE:HEP) to report sales of $125.54 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Holly Energy Partners’ earnings, with estimates ranging from $123.30 million to $126.70 million. Holly Energy Partners posted sales of $109.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The business is expected to issue its next earnings results before the market opens on Wednesday, August 1st.
According to Zacks, analysts expect that Holly Energy Partners will report full year sales of $512.59 million for the current year, with estimates ranging from $508.90 million to $518.35 million. For the next financial year, analysts expect that the company will post sales of $531.09 million per share, with estimates ranging from $521.40 million to $541.12 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Holly Energy Partners.
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Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Tuesday, May 1st. The pipeline company reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. Holly Energy Partners had a net margin of 45.15% and a return on equity of 35.67%. The firm had revenue of $128.88 million during the quarter, compared to the consensus estimate of $122.74 million. During the same quarter last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year.
HEP has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. JPMorgan Chase & Co. started coverage on shares of Holly Energy Partners in a research note on Friday, April 6th. They issued an “underweight” rating and a $30.00 price objective for the company. Barclays decreased their price objective on shares of Holly Energy Partners from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 17th. Finally, ValuEngine downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $31.22.
Shares of Holly Energy Partners traded up $0.68, reaching $28.96, during trading on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 84,300 shares, compared to its average volume of 160,774. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.38. Holly Energy Partners has a 12 month low of $26.08 and a 12 month high of $36.05. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 16.19 and a beta of 0.86.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. increased its position in shares of 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 worth $197,000 after acquiring an additional 1,927 shares during the period. Koch Industries Inc. purchased a new position in shares of Holly Energy Partners during the fourth quarter worth approximately $234,000. Jane Street Group LLC purchased a new position in shares of Holly Energy Partners during the fourth quarter worth approximately $395,000. Cullen Frost Bankers Inc. increased its position in shares of Holly Energy Partners by 11.4% during the first quarter. Cullen Frost Bankers Inc. now owns 23,400 shares of the pipeline company’s stock worth $645,000 after acquiring an additional 2,400 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Holly Energy Partners by 40.7% during the first quarter. BNP Paribas Arbitrage SA now owns 24,206 shares of the pipeline company’s stock worth $667,000 after acquiring an additional 6,996 shares during the period. 31.58% of the stock is owned by institutional investors and hedge funds.
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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