Zacks: Brokerages Anticipate Holly Energy Partners, L.P. (NYSE:HEP) to Announce $0.42 EPS

Equities analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to post $0.42 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Holly Energy Partners’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.41. Holly Energy Partners reported earnings of $0.38 per share during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The business is expected to report its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Holly Energy Partners will report full-year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.83 to $1.86. For the next fiscal year, analysts forecast that the firm will post earnings of $1.87 per share, with EPS estimates ranging from $1.77 to $1.98. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last posted its earnings results on Wednesday, May 1st. The pipeline company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $128.80 million. Holly Energy Partners had a net margin of 35.92% and a return on equity of 34.88%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share.

A number of research analysts have recently commented on HEP shares. Zacks Investment Research cut shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. ValuEngine cut shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Raymond James cut shares of Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 target price for the company. in a report on Wednesday. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.31.

HEP stock opened at $27.50 on Thursday. The company has a market capitalization of $2.90 billion, a PE ratio of 15.71, a P/E/G ratio of 14.89 and a beta of 0.73. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.49 and a quick ratio of 1.49. Holly Energy Partners has a 12 month low of $26.33 and a 12 month high of $34.00. The business has a 50-day moving average of $27.29.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tortoise Index Solutions LLC grew its holdings in Holly Energy Partners by 17.6% during the 1st quarter. Tortoise Index Solutions LLC now owns 19,389 shares of the pipeline company’s stock valued at $523,000 after buying an additional 2,903 shares in the last quarter. Bollard Group LLC grew its holdings in Holly Energy Partners by 8.8% during the 1st quarter. Bollard Group LLC now owns 276,623 shares of the pipeline company’s stock valued at $7,466,000 after buying an additional 22,428 shares in the last quarter. Barings LLC purchased a new position in Holly Energy Partners during the 1st quarter valued at about $289,000. Cadence Capital Management LLC grew its holdings in Holly Energy Partners by 13.2% during the 1st quarter. Cadence Capital Management LLC now owns 144,565 shares of the pipeline company’s stock valued at $3,902,000 after buying an additional 16,900 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in Holly Energy Partners during the 1st quarter valued at about $248,000. Institutional investors and hedge funds own 31.25% of the company’s stock.

Holly Energy Partners Company Profile

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.

Recommended Story: LIBOR

Get a free copy of the Zacks research report on Holly Energy Partners (HEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Holly Energy Partners (NYSE:HEP)

Receive News & Ratings for Holly Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.