Holly Energy Partners, L.P. (NYSE:HEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $37.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.26% from the company’s current price.

According to Zacks, “Holly Energy Partners, through its subsidiaries, will own and operate refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. “

A number of other analysts also recently issued reports on HEP. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $36.00 price target on shares of Holly Energy Partners, L.P. in a report on Thursday, August 25th. Barclays PLC reissued an “equal weight” rating and set a $35.00 price target on shares of Holly Energy Partners, L.P. in a report on Thursday, July 7th. Finally, Bank of America Corp. set a $38.00 price target on shares of Holly Energy Partners, L.P. and gave the stock a “buy” rating in a report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Holly Energy Partners, L.P. presently has a consensus rating of “Buy” and an average target price of $36.50.

Analyst Recommendations for Holly Energy Partners, L.P. (NYSE:HEP)

Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded down 0.66% during trading on Tuesday, hitting $32.96. 108,269 shares of the company’s stock were exchanged. The company has a 50-day moving average of $33.49 and a 200-day moving average of $33.89. Holly Energy Partners, L.P. has a 12-month low of $21.44 and a 12-month high of $36.99. The company has a market cap of $1.95 billion, a P/E ratio of 17.60 and a beta of 0.84.

Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business earned $94.90 million during the quarter, compared to analysts’ expectations of $97.17 million. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. On average, equities analysts expect that Holly Energy Partners, L.P. will post $1.96 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Creative Planning boosted its position in Holly Energy Partners, L.P. by 0.3% in the second quarter. Creative Planning now owns 3,908 shares of the company’s stock worth $135,000 after buying an additional 12 shares in the last quarter. BlackRock Inc. boosted its position in Holly Energy Partners, L.P. by 1.3% in the second quarter. BlackRock Inc. now owns 5,204 shares of the company’s stock worth $180,000 after buying an additional 65 shares in the last quarter. Alliancebernstein L.P. boosted its position in Holly Energy Partners, L.P. by 2.5% in the second quarter. Alliancebernstein L.P. now owns 6,230 shares of the company’s stock worth $216,000 after buying an additional 150 shares in the last quarter. Van ECK Associates Corp boosted its position in Holly Energy Partners, L.P. by 1.5% in the second quarter. Van ECK Associates Corp now owns 30,591 shares of the company’s stock worth $1,060,000 after buying an additional 462 shares in the last quarter. Finally, Williams Jones & Associates LLC boosted its stake in shares of Holly Energy Partners, L.P. by 2.4% in the second quarter. Williams Jones & Associates LLC now owns 21,085 shares of the company’s stock worth $731,000 after buying an additional 500 shares during the period.

About Holly Energy Partners, L.P.

Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals and loading rack facilities. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.

5 Day Chart for NYSE:HEP

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