Zacks: Analysts Expect Holly Energy Partners, L.P. (NYSE:HEP) Will Announce Quarterly Sales of $120.41 Million

Equities analysts expect that Holly Energy Partners, L.P. (NYSE:HEP) will post $120.41 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Holly Energy Partners’ earnings. The highest sales estimate is $122.51 million and the lowest is $118.30 million. Holly Energy Partners reported sales of $135.90 million during the same quarter last year, which indicates a negative year-over-year growth rate of 11.4%. The firm is expected to issue its next earnings report before the market opens on Wednesday, November 4th.

According to Zacks, analysts expect that Holly Energy Partners will report full year sales of $490.56 million for the current year, with estimates ranging from $489.42 million to $491.70 million. For the next fiscal year, analysts expect that the company will post sales of $524.64 million, with estimates ranging from $515.28 million to $534.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $114.80 million for the quarter, compared to analysts’ expectations of $105.32 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis.

A number of research analysts have weighed in on the company. Zacks Investment Research raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised Holly Energy Partners from an “underweight” rating to an “overweight” rating and increased their target price for the company from $17.00 to $20.00 in a report on Thursday, August 27th. Jefferies Financial Group raised Holly Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, July 20th. Credit Suisse Group restated a “neutral” rating and issued a $17.00 price target on shares of Holly Energy Partners in a research report on Thursday, August 13th. Finally, ValuEngine cut Holly Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Holly Energy Partners has an average rating of “Hold” and a consensus price target of $17.79.

Shares of NYSE:HEP traded down $0.20 during midday trading on Monday, reaching $11.93. 301,295 shares of the company’s stock traded hands, compared to its average volume of 542,930. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 5.56 and a beta of 1.14. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.62 and a current ratio of 1.62. Holly Energy Partners has a one year low of $6.57 and a one year high of $25.63. The stock has a 50 day moving average of $14.02 and a 200 day moving average of $14.02.

A number of large investors have recently bought and sold shares of HEP. Wells Fargo & Company MN boosted its stake in Holly Energy Partners by 3,944.4% during the 1st quarter. Wells Fargo & Company MN now owns 2,922,045 shares of the pipeline company’s stock worth $40,996,000 after acquiring an additional 2,849,795 shares during the last quarter. UBS Group AG grew its holdings in shares of Holly Energy Partners by 2.6% during the second quarter. UBS Group AG now owns 1,324,935 shares of the pipeline company’s stock worth $19,331,000 after purchasing an additional 34,017 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Holly Energy Partners by 14.1% during the first quarter. JPMorgan Chase & Co. now owns 1,177,535 shares of the pipeline company’s stock worth $16,521,000 after purchasing an additional 145,909 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Holly Energy Partners by 60.1% during the second quarter. CIBC Private Wealth Group LLC now owns 896,490 shares of the pipeline company’s stock worth $13,080,000 after purchasing an additional 336,622 shares during the last quarter. Finally, Harvest Fund Advisors LLC grew its holdings in shares of Holly Energy Partners by 4,750.4% during the first quarter. Harvest Fund Advisors LLC now owns 378,328 shares of the pipeline company’s stock worth $5,308,000 after purchasing an additional 370,528 shares during the last quarter. Institutional investors own 31.94% 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.

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

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