Analysts Anticipate Holly Energy Partners, L.P. (NYSE:HEP) Will Announce Earnings of $0.29 Per Share

Equities research analysts predict that Holly Energy Partners, L.P. (NYSE:HEP) will post earnings per share of $0.29 for the current quarter, Zacks reports. Two analysts have provided estimates for Holly Energy Partners’ earnings, with estimates ranging from $0.28 to $0.30. Holly Energy Partners reported earnings per share of $0.52 in the same quarter last year, which suggests a negative year over year growth rate of 44.2%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, November 4th.

According to Zacks, analysts expect that Holly Energy Partners will report full year earnings of $1.88 per share for the current fiscal year. For the next year, analysts anticipate that the firm will report earnings of $1.97 per share, with EPS estimates ranging from $1.90 to $2.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.44. Holly Energy Partners had a return on equity of 41.72% and a net margin of 44.95%. The business had revenue of $114.80 million during the quarter, compared to analysts’ expectations of $105.32 million. During the same quarter last year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis.

A number of research analysts have recently weighed in on HEP shares. JPMorgan Chase & Co. upgraded Holly Energy Partners from an “underweight” rating to an “overweight” rating and raised their price target for the company from $17.00 to $20.00 in a research report on Thursday, August 27th. Wells Fargo & Company raised their price target on Holly Energy Partners from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group upgraded Holly Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, July 20th. Zacks Investment Research upgraded Holly Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, August 11th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $17.00 price objective on shares of Holly Energy Partners in a research report on Thursday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.79.

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of Holly Energy Partners by 555.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,800 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 10,000 shares in the last quarter. Blackstone Group Inc acquired a new position in shares of Holly Energy Partners in the 2nd quarter worth approximately $5,101,000. Private Advisor Group LLC acquired a new position in shares of Holly Energy Partners in the 2nd quarter worth approximately $32,000. Glenmede Trust Co. NA raised its holdings in shares of Holly Energy Partners by 7.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 70,045 shares of the pipeline company’s stock worth $1,021,000 after buying an additional 4,708 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Holly Energy Partners by 1,968.7% in the 2nd quarter. Bank of America Corp DE now owns 357,491 shares of the pipeline company’s stock worth $5,216,000 after buying an additional 340,210 shares in the last quarter. 31.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HEP stock traded down $0.20 during mid-day trading on Friday, reaching $11.93. The stock had a trading volume of 301,295 shares, compared to its average volume of 542,930. Holly Energy Partners has a 12-month low of $6.57 and a 12-month high of $25.63. The company has a market cap of $1.26 billion, a P/E ratio of 5.56 and a beta of 1.14. The business has a 50-day simple moving average of $14.02 and a 200 day simple moving average of $14.02. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.13.

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

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