$105.93 Million in Sales Expected for Holly Energy Partners, L.P. (NYSE:HEP) This Quarter

Equities research analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to post sales of $105.93 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Holly Energy Partners’ earnings, with the lowest sales estimate coming in at $95.00 million and the highest estimate coming in at $112.61 million. Holly Energy Partners posted sales of $130.75 million during the same quarter last year, which would indicate a negative year over year growth rate of 19%. The business is scheduled to report its next earnings report before the market opens on Wednesday, August 5th.

According to Zacks, analysts expect that Holly Energy Partners will report full year sales of $485.61 million for the current year, with estimates ranging from $477.69 million to $497.15 million. For the next year, analysts expect that the business will post sales of $525.77 million, with estimates ranging from $514.92 million to $531.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last issued its earnings results on Wednesday, May 6th. The pipeline company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $133.77 million. Holly Energy Partners had a return on equity of 41.37% and a net margin of 37.74%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS.

Several brokerages have recently commented on HEP. UBS Group raised their target price on Holly Energy Partners from $16.00 to $17.50 and gave the company a “buy” rating in a research note on Monday, May 11th. US Capital Advisors upgraded Holly Energy Partners from a “hold” rating to an “overweight” rating in a research note on Thursday, May 21st. Credit Suisse Group upgraded Holly Energy Partners from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $15.00 in a research note on Tuesday, April 21st. Zacks Investment Research upgraded Holly Energy Partners from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday. Finally, Raymond James upgraded Holly Energy Partners from an “underperform” rating to an “outperform” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.92.

Shares of HEP traded down $0.32 during trading hours on Friday, hitting $14.11. The stock had a trading volume of 319,422 shares, compared to its average volume of 517,643. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $17.89. The firm has a market capitalization of $1.49 billion, a P/E ratio of 7.51 and a beta of 1.05. Holly Energy Partners has a 1-year low of $6.57 and a 1-year high of $30.61.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Holly Energy Partners by 6.4% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 6,665,703 shares of the pipeline company’s stock worth $147,646,000 after buying an additional 400,200 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Holly Energy Partners by 22,901.0% in the 1st quarter. Alps Advisors Inc. now owns 5,924,821 shares of the pipeline company’s stock worth $83,125,000 after buying an additional 5,899,062 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Holly Energy Partners by 3,944.4% in the 1st quarter. Wells Fargo & Company MN now owns 2,922,045 shares of the pipeline company’s stock worth $40,996,000 after buying an additional 2,849,795 shares during the last quarter. UBS Group AG boosted its stake in shares of Holly Energy Partners by 3.2% in the 4th quarter. UBS Group AG now owns 1,373,093 shares of the pipeline company’s stock worth $30,414,000 after buying an additional 42,701 shares during the last quarter. Finally, Brookfield Public Securities Group LLC raised its holdings in shares of Holly Energy Partners by 18.4% in the 4th quarter. Brookfield Public Securities Group LLC now owns 1,346,524 shares of the pipeline company’s stock worth $29,826,000 after purchasing an additional 209,049 shares during the period. Hedge funds and other institutional investors own 32.22% 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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