Holly Energy Partners LP (HEP) Receives a Sell from J.P. Morgan


J.P. Morgan analyst Jeremy Tonet maintained a Sell rating on Holly Energy Partners LP (NYSE: HEP) today and set a price target of $30. The company’s shares closed yesterday at $31.45.

According to TipRanks.com, Tonet is a 4-star analyst with an average return of 7.1% and a 58.6% success rate. Tonet covers the Basic Materials sector, focusing on stocks such as Valero Energy Partners, Phillips 66 Partners, and Boardwalk Pipeline.

Holly Energy Partners LP has an analyst consensus of Moderate Sell, with a price target consensus of $31.50.

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Based on Holly Energy Partners LP’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $40.14 million. In comparison, last year the company had a net profit of $23.01 million.

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Holly Energy Partners LP engages in the provision of petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry. It also owns and operate petroleum and crude oil pipelines, terminal, tankage and loading rack facilities and refinery processing units.

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