Holly Energy Partners, L.P. (NYSE:HEP) – Jefferies Financial Group issued their Q1 2019 earnings per share (EPS) estimates for Holly Energy Partners in a research report issued to clients and investors on Tuesday, October 16th. Jefferies Financial Group analyst C. Sighinolfi expects that the pipeline company will earn $0.46 per share for the quarter. Jefferies Financial Group also issued estimates for Holly Energy Partners’ Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.43 EPS and Q4 2019 earnings at $0.49 EPS.
A number of other research firms also recently weighed in on HEP. Zacks Investment Research downgraded Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. dropped their target price on Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. Finally, Scotiabank restated a “hold” rating and issued a $33.00 target price on shares of Holly Energy Partners in a research report on Monday, August 20th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $31.11.
Holly Energy Partners (NYSE:HEP) last released its earnings results on Wednesday, August 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). The firm had revenue of $118.76 million during the quarter, compared to the consensus estimate of $123.41 million. Holly Energy Partners had a return on equity of 34.10% and a net margin of 44.01%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS.
A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in Holly Energy Partners in the third quarter valued at approximately $122,000. Truvestments Capital LLC bought a new stake in Holly Energy Partners in the second quarter valued at approximately $345,000. Global X Management Co LLC lifted its position in Holly Energy Partners by 15.3% in the second quarter. Global X Management Co LLC now owns 32,923 shares of the pipeline company’s stock valued at $930,000 after purchasing an additional 4,363 shares during the last quarter. Putnam Investments LLC bought a new stake in Holly Energy Partners in the second quarter valued at approximately $1,249,000. Finally, Bank of America Corp DE lifted its position in Holly Energy Partners by 33.1% in the second quarter. Bank of America Corp DE now owns 126,036 shares of the pipeline company’s stock valued at $3,562,000 after purchasing an additional 31,322 shares during the last quarter. Hedge funds and other institutional investors own 31.27% of the company’s stock.
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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