Analysts expect Holly Energy Partners, L.P. (NYSE:HEP) to report sales of $125.07 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Holly Energy Partners’ earnings. The highest sales estimate is $126.96 million and the lowest is $123.76 million. Holly Energy Partners reported sales of $118.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Holly Energy Partners will report full year sales of $523.51 million for the current year, with estimates ranging from $512.50 million to $530.00 million. For the next fiscal year, analysts expect that the company will report sales of $535.44 million, with estimates ranging from $520.70 million to $545.31 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Holly Energy Partners.

Holly Energy Partners (NYSE:HEP) last issued its quarterly earnings data on Wednesday, May 1st. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. Holly Energy Partners had a net margin of 35.92% and a return on equity of 34.88%. The business had revenue of $134.50 million during the quarter, compared to the consensus estimate of $128.80 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year.

HEP has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Barclays reaffirmed a “sell” rating on shares of Holly Energy Partners in a research report on Wednesday, February 20th. Finally, ValuEngine raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.00.

Shares of HEP stock opened at $28.03 on Wednesday. Holly Energy Partners has a 52-week low of $26.44 and a 52-week high of $34.00. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 16.49 and a beta of 0.78.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Monday, April 29th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 9.56%. This is a boost from Holly Energy Partners’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, April 26th. Holly Energy Partners’s payout ratio is presently 157.65%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEP. JPMorgan Chase & Co. boosted its stake in Holly Energy Partners by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 879,788 shares of the pipeline company’s stock valued at $27,679,000 after acquiring an additional 44,682 shares during the last quarter. Bank of Montreal Can boosted its stake in Holly Energy Partners by 1,239.2% in the fourth quarter. Bank of Montreal Can now owns 52,136 shares of the pipeline company’s stock valued at $1,489,000 after acquiring an additional 48,243 shares during the last quarter. Sigma Planning Corp purchased a new position in Holly Energy Partners in the fourth quarter valued at about $307,000. Pettinga Financial Advisors LLC purchased a new position in Holly Energy Partners in the fourth quarter valued at about $210,000. Finally, Alps Advisors Inc. boosted its stake in Holly Energy Partners by 12.5% in the fourth quarter. Alps Advisors Inc. now owns 4,558,080 shares of the pipeline company’s stock valued at $130,179,000 after acquiring an additional 507,846 shares during the last quarter. Hedge funds and other institutional investors own 32.24% 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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