Holly Energy Partners, L.P. (NYSE:HEP) Expected to Announce Quarterly Sales of $125.73 Million

Wall Street analysts expect that Holly Energy Partners, L.P. (NYSE:HEP) will post sales of $125.73 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Holly Energy Partners’ earnings, with estimates ranging from $124.50 million to $126.96 million. Holly Energy Partners reported sales of $118.76 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The business is expected to issue its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Holly Energy Partners will report full year sales of $525.91 million for the current financial year, with estimates ranging from $512.50 million to $532.56 million. For the next financial year, analysts expect that the company will report sales of $537.92 million, with estimates ranging from $520.70 million to $548.65 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Holly Energy Partners.

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

A number of equities research analysts recently issued reports on the company. Raymond James cut Holly Energy Partners from a “market perform” rating to an “underperform” rating and set a $26.86 price objective on the stock. in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded Holly Energy Partners from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, May 14th. Finally, ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Holly Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $30.31.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bollard Group LLC boosted its stake in Holly Energy Partners by 8.8% in the first quarter. Bollard Group LLC now owns 276,623 shares of the pipeline company’s stock worth $7,466,000 after buying an additional 22,428 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Holly Energy Partners in the 4th quarter worth approximately $6,187,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Holly Energy Partners by 574.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 312,082 shares of the pipeline company’s stock worth $8,913,000 after acquiring an additional 265,832 shares during the last quarter. PFG Advisors bought a new stake in Holly Energy Partners in the 4th quarter worth approximately $2,355,000. Finally, Tortoise Index Solutions LLC increased its stake in Holly Energy Partners by 109.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 16,486 shares of the pipeline company’s stock worth $471,000 after acquiring an additional 8,633 shares during the last quarter. Hedge funds and other institutional investors own 31.25% of the company’s stock.

Shares of Holly Energy Partners stock opened at $27.50 on Friday. Holly Energy Partners has a 52-week low of $26.33 and a 52-week high of $34.00. The firm has a 50-day moving average price of $27.29. The company has a market cap of $2.81 billion, a PE ratio of 16.18, a P/E/G ratio of 14.42 and a beta of 0.73. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.03.

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.

Featured Article: What are the qualifications of a portfolio manager?

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.