Holly Energy Partners (NYSE:HEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 16th. The firm currently has a $37.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 24.41% from the stock’s current price.
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 brokerages also recently issued reports on HEP. Wells Fargo & Co decreased their target price on Holly Energy Partners from $35.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, October 20th. UBS Group decreased their target price on Holly Energy Partners from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Credit Suisse Group initiated coverage on Holly Energy Partners in a research note on Thursday, January 4th. They set an “underperform” rating and a $28.00 target price on the stock. Scotiabank set a $34.00 target price on Holly Energy Partners and gave the company a “hold” rating in a research note on Friday, October 20th. Finally, Goldman Sachs Group downgraded Holly Energy Partners from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Monday, December 18th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.11.
Holly Energy Partners (HEP) traded up $0.13 during midday trading on Tuesday, hitting $29.74. The stock had a trading volume of 415,030 shares, compared to its average volume of 184,081. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.10 and a quick ratio of 1.10. Holly Energy Partners has a 1 year low of $28.48 and a 1 year high of $37.66. The company has a market capitalization of $3,020.63, a P/E ratio of 17.09, a P/E/G ratio of 7.83 and a beta of 0.74.
In other Holly Energy Partners news, Director Michael Jennings sold 4,000 shares of Holly Energy Partners stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $32.51, for a total value of $130,040.00. Following the sale, the director now owns 22,978 shares of the company’s stock, valued at approximately $747,014.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Holly Energy Partners by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 8,800 shares of the pipeline company’s stock worth $286,000 after purchasing an additional 45 shares during the period. Wells Fargo & Company MN boosted its holdings in Holly Energy Partners by 1.2% during the 2nd quarter. Wells Fargo & Company MN now owns 37,398 shares of the pipeline company’s stock valued at $1,214,000 after acquiring an additional 427 shares during the period. Alliancebernstein L.P. boosted its holdings in Holly Energy Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 9,199 shares of the pipeline company’s stock valued at $299,000 after acquiring an additional 515 shares during the period. CNH Partners LLC boosted its holdings in Holly Energy Partners by 3.5% during the 2nd quarter. CNH Partners LLC now owns 18,004 shares of the pipeline company’s stock valued at $585,000 after acquiring an additional 617 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Holly Energy Partners by 0.9% during the 2nd quarter. California Public Employees Retirement System now owns 74,600 shares of the pipeline company’s stock valued at $2,423,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 48.59% of the company’s stock.
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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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