Private Advisor Group LLC boosted its holdings in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 16.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,816 shares of the pipeline company’s stock after purchasing an additional 1,235 shares during the period. Private Advisor Group LLC’s holdings in Holly Energy Partners were worth $252,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its position in Holly Energy Partners by 5.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 25,410 shares of the pipeline company’s stock worth $725,000 after purchasing an additional 1,294 shares during the last quarter. Lindbrook Capital LLC purchased a new position in Holly Energy Partners during the 4th quarter worth $39,000. Arlington Partners LLC purchased a new position in Holly Energy Partners during the 4th quarter worth $43,000. Northern Oak Wealth Management Inc. grew its position in Holly Energy Partners by 80.6% during the 3rd quarter. Northern Oak Wealth Management Inc. now owns 5,600 shares of the pipeline company’s stock worth $176,000 after purchasing an additional 2,500 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its position in Holly Energy Partners by 5.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 78,448 shares of the pipeline company’s stock worth $2,468,000 after purchasing an additional 3,753 shares during the last quarter. 32.28% of the stock is currently owned by institutional investors.
HEP has been the topic of several research reports. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Barclays reissued a “sell” rating on shares of Holly Energy Partners in a research report on Wednesday, February 20th. Finally, Scotiabank reissued a “hold” rating on shares of Holly Energy Partners in a research report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Holly Energy Partners currently has an average rating of “Hold” and a consensus price target of $31.60.
Holly Energy Partners (NYSE:HEP) last issued its earnings results on Tuesday, February 19th. The pipeline company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). The firm had revenue of $132.80 million during the quarter, compared to analysts’ expectations of $129.81 million. Holly Energy Partners had a net margin of 35.33% and a return on equity of 32.61%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities analysts predict that Holly Energy Partners, L.P. will post 1.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, February 4th were issued a $0.6675 dividend. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, February 1st. This represents a $2.67 annualized dividend and a dividend yield of 9.45%. Holly Energy Partners’s payout ratio is presently 157.06%.
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Holly Energy Partners Company Profile
Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units that support the refining and marketing operations of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.
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