Price Action Report: What’s Ahead for Holly Energy Partners, L.P. After Today’s Big Decline?

Price Action Report: What's Ahead for Holly Energy Partners, L.P. After Today's Big Decline?

The stock of Holly Energy Partners, L.P. (NYSE:HEP) is a huge mover today! The stock decreased 3.44% or $1.21 on September 30, hitting $33.93. About 163,666 shares traded hands or 56.74% up from the average. Holly Energy Partners, L.P. (NYSE:HEP) has risen 15.49% since February 29, 2016 and is uptrending. It has outperformed by 5.06% the S&P500.
The move comes after 8 months negative chart setup for the $2.04 billion company. It was reported on Oct, 1 by Barchart.com. We have $32.23 PT which if reached, will make NYSE:HEP worth $102.00M less.

Analysts await Holly Energy Partners, L.P. (NYSE:HEP) to report earnings on November, 2. They expect $0.43 EPS, up 7.50% or $0.03 from last year’s $0.4 per share. HEP’s profit will be $25.85M for 19.73 P/E if the $0.43 EPS becomes a reality. After $0.45 actual EPS reported by Holly Energy Partners, L.P. for the previous quarter, Wall Street now forecasts -4.44% negative EPS growth.

Holly Energy Partners, L.P. (NYSE:HEP) Ratings Coverage

Out of 7 analysts covering Holly Energy Partners (NYSE:HEP), 1 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 14% are positive. Holly Energy Partners has been the topic of 11 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was reinitiated on Friday, April 1 by Piper Jaffray. Zacks downgraded the shares of HEP in a report on Friday, August 7 to “Buy” rating. The rating was downgraded by Raymond James to “Underperform” on Wednesday, April 27. UBS maintained the shares of HEP in a report on Friday, September 4 with “Neutral” rating. The firm earned “Buy” rating on Friday, March 18 by Goldman Sachs. The firm earned “Equal Weight” rating on Wednesday, August 5 by Barclays Capital. Howard Weil maintained the shares of HEP in a report on Tuesday, September 8 with “Sector Perform” rating. On Wednesday, August 19 the stock rating was downgraded by TheStreet to “Hold”. Goldman Sachs reinitiated the stock with “Neutral” rating in Friday, August 26 report.

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

Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.22, from 0.91 in 2016Q1. The ratio increased, as 16 funds sold all Holly Energy Partners, L.P. shares owned while 24 reduced positions. 12 funds bought stakes while 33 increased positions. They now own 22.33 million shares or 4.96% less from 23.50 million shares in 2016Q1.
Tiedemann Tru holds 2.9% of its portfolio in Holly Energy Partners, L.P. (NYSE:HEP) for 452,803 shares. Rr Advisors Ltd Liability holds 1.55% or 300,000 shares in its portfolio. Deutsche Fincl Bank Ag has invested 0% of its portfolio in Holly Energy Partners, L.P. (NYSE:HEP). Neuberger Berman Grp Inc Limited Liability accumulated 14,440 shares or 0% of the stock. The Texas-based Cullen Frost Bankers Inc has invested 0.03% in Holly Energy Partners, L.P. (NYSE:HEP). American Century last reported 26,119 shares in the company. Van Eck Assoc accumulated 0.01% or 30,591 shares. Goldman Sachs last reported 3.27M shares in the company. Blackrock Incorporated reported 5,204 shares or 0% of all its holdings. Monetary Management Gp holds 0.09% or 5,800 shares in its portfolio. Peregrine Asset Advisers owns 26,100 shares or 0.6% of their US portfolio. Us Natl Bank De has invested 0% of its portfolio in Holly Energy Partners, L.P. (NYSE:HEP). Glenmede Trust Na reported 69,857 shares or 0.01% of all its holdings. The New Jersey-based Murphy Cap Mngmt Inc has invested 0.03% in Holly Energy Partners, L.P. (NYSE:HEP). Renaissance Limited Liability Co last reported 96,829 shares in the company.

More notable recent Holly Energy Partners, L.P. (NYSE:HEP) news were published by: Businesswire.com which released: “Holly Energy Partners and HollyFrontier Corporation Announce Dropdown of Woods …” on September 19, 2016, also Businesswire.com with their article: “Holly Energy Partners Announces Acquisition of Interest in Cheyenne Pipeline” published on June 06, 2016, Fool.com published: “Holly Energy Partners Is a Fantastic Buy Today” on January 28, 2016. More interesting news about Holly Energy Partners, L.P. (NYSE:HEP) were released by: Benzinga.com and their article: “Holly Energy Resumed Neutral At Goldman Sachs” published on August 26, 2016 as well as Seekingalpha.com‘s news article titled: “Holly Energy Partners’ (HEP) Q2 2016 Results – Earnings Call Transcript” with publication date: August 03, 2016.

HEP Company Profile

Holly Energy Partners, L.P., (HEP), incorporated on March 9, 2004, is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals and loading rack facilities. The Firm operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington. The Company’s assets include pipelines; refined product terminals and refinery tankage, and refinery processing units. Holly Logistic Services, L.L.C. (HLS) is a subsidiary of HollyFrontier Corporation (HFC), which is the general partner of HEP and manages HEP. The Firm owns and operates petroleum product and crude pipelines, terminal, tankage and loading rack facilities, and refinery processing units that support the refining and marketing activities of HFC in the Mid-Continent, Southwest and Rocky Mountain regions of the United States and Alon USA, Inc.’s (Alon) refinery in Big Spring, Texas.

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