UBS Adjusts Estimates on Holly Energy Partners (HEP); Expects Continued Distribution Growth
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Price: $37.36 --0%
Rating Summary:
1 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
1 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade HEP Now!
UBS maintains a 'Neutral' on Holly Energy Partners (NYSE: HEP) price target of $63.00 (from $62.00).
Analyst, Ronald J. Barone, said, "HEP reported 2Q12 EBITDA of $44.1MM, up from $35.5MM in 2Q11. EPU were $0.63, above our $0.61 estimate but below the consensus estimate of $0.73 and the $0.69 reported in 2Q11 The lower YOY per unit comparisons are due to a 54% increase in general partners interest in net income and a 24% increase in weighted aver LPU outstanding. EBITDA rose 24% and DCF increased 61%." (FY12 EPS estimate lowered from $3.15 to $3.11 and FY13 from $3.48 to $3.39)
"HEP has increased the distribution every quarter since it became public in July '04 (31 consecutive quarters). We expect this enviable record to continue."
For an analyst ratings summary and ratings history on Holly Energy Partners click here. For more ratings news on Holly Energy Partners click here.
Shares of Holly Energy Partners closed at $65.92 yesterday, with a 52 week range of $45.40-$66.69.
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Analyst, Ronald J. Barone, said, "HEP reported 2Q12 EBITDA of $44.1MM, up from $35.5MM in 2Q11. EPU were $0.63, above our $0.61 estimate but below the consensus estimate of $0.73 and the $0.69 reported in 2Q11 The lower YOY per unit comparisons are due to a 54% increase in general partners interest in net income and a 24% increase in weighted aver LPU outstanding. EBITDA rose 24% and DCF increased 61%." (FY12 EPS estimate lowered from $3.15 to $3.11 and FY13 from $3.48 to $3.39)
"HEP has increased the distribution every quarter since it became public in July '04 (31 consecutive quarters). We expect this enviable record to continue."
For an analyst ratings summary and ratings history on Holly Energy Partners click here. For more ratings news on Holly Energy Partners click here.
Shares of Holly Energy Partners closed at $65.92 yesterday, with a 52 week range of $45.40-$66.69.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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