Barclays Adjusting Numbers on Holly Energy Partners (HEP) After Acquisition of Interest in UNEV Pipeline

July 13, 2012 3:05 PM EDT Send to a Friend
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Price: $35.24 --0%

Rating Summary:
    1 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 18 | New: 13
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Barclays maintains an 'Equalweight' on Holly Energy Partners (NYSE: HEP) price target of $63.00 (from $62.00).

Analyst, Brian J. Zarahn, said, "Acquisition modestly accretive near term, provides upside potential long term. HEP's conference call provided additional color on UNEV pipeline economics. GP giveback makes transaction modestly accretive now, while Rockies refinery expansions provide upside post 2014...However, we expect units to be range bound given HEP will likely raise additional equity to finance UNEV acquisition."

FY12 EPS estimate lowered from $2.77 to $2.75 and FY13 from $3.21 to 3.09.

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 $60.77 yesterday.


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