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.
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.
Further Reading: Why do company’s buyback their stock?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.