Goldman Sachs Downgrades Holly Energy Partners (HEP) to Sell

January 28, 2013 8:12 AM EST
Get Alerts HEP Hot Sheet
Price: $35.30 +0.86%

Rating Summary:
    4 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 16 | New: 10
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Goldman Sachs downgraded Holly Energy Partners (NYSE: HEP) from Neutral to Sell with a price target of $35.00 in assumed coverage.

The firm said current valuation implies a high-single digit distribution growth trajectory while they see a mid-single digit forecast. The firm's 2013/14 EPS estimates are 2%/6% below consensus.

"While HEP offers cash flow stability aided by a strong contract structure, we prefer units with higher growth potential given its premium valuation (5.1% yield vs. 6.1% MLP average yield)," the analyst comments.

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 $36.48 yesterday.

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