Holly Energy Partners L.P. (HEP) is Downgraded by Raymond James to Underperform

Holly Energy Partners L.P. (HEP) was Downgraded by Raymond James to ” Underperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on Apr 27, 2016.

Many Wall Street Analysts have commented on Holly Energy Partners L.P.. Holly Energy Partners L.P. was Upgraded by BofA/Merrill to ” Buy” on Feb 17, 2016.

On the company’s financial health, Holly Energy Partners L.P. reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.43. The company had revenue of $97.25 million for the quarter, compared to analysts expectations of $95.56 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Holly Energy Partners L.P. opened for trading at $34.96 and hit $35.21 on the upside on Friday, eventually ending the session at $34.89, with a gain of 0.63% or 0.22 points. The heightened volatility saw the trading volume jump to 95,763 shares. Company has a market cap of $2,047 M.

In a different news, on Mar 2, 2016, Michael Jennings (CEO) purchased 1,948 shares at $29.25 per share price. According to the SEC, on Oct 1, 2015, Kenneth Norwood (VP and Controller) purchased 1,000 shares at $27.44 per share price. On Jun 22, 2015, Mark T. Cunningham (Sr Vice President, Operations) sold 5,000 shares at $36.03 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Holly Logistic Services L.L.C. (HLS) is a subsidiary of HollyFrontier Corporation (HFC) which is the partner of the general partner of HEP and manages HEP. It owns and operates petroleum product and crude pipelines and terminal tankage and loading rack facilities that support HFC’s refining and marketing operations in the Mid-Continent Southwest and Rocky Mountain regions and Alon USA Inc.’s refinery in Big Spring Texas. Additionally the Company has interest in UNEV Pipeline LLC (UNEV) which owns a 427-mile 12-inch refined products pipeline running from Woods Cross Utah to Las Vegas Nevada product terminals near Cedar City Utah and Las Vegas Nevada and assets.

Holly Energy Partners L.P.

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