Is Holly Energy Partners LP overvalued or undervalued?

As of 5 October 2023, Holly Energy Partners LP has moved from fair to attractive based on recent evaluations. The company appears to be undervalued at this time. Key ratios include a Price-to-Earnings (P/E) ratio of 12.5, a Price-to-Book (P/B) ratio of 1.2, and a Dividend Yield of 8.4%.
In comparison to its peers, Magellan Midstream Partners has a P/E ratio of 14.0, while Plains All American Pipeline shows a P/B ratio of 1.5. This indicates that Holly Energy Partners LP is trading at a discount relative to its peers, reinforcing the undervaluation narrative. Additionally, the stock has outperformed the Sensex recently, further supporting its attractive valuation.