Holly Energy Partners, L.P. (NYSE:HEP) Stake Lowered by First Trust Advisors LP

First Trust Advisors LP decreased its position in Holly Energy Partners, L.P. (NYSE:HEP) by 25.4% during the first quarter, HoldingsChannel.com reports. The firm owned 158,904 shares of the pipeline company’s stock after selling 54,211 shares during the quarter. First Trust Advisors LP’s holdings in Holly Energy Partners were worth $4,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Holly Energy Partners by 574.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 312,082 shares of the pipeline company’s stock worth $8,913,000 after acquiring an additional 265,832 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Holly Energy Partners during the fourth quarter worth $6,187,000. Cadence Capital Management LLC increased its position in Holly Energy Partners by 13.2% during the first quarter. Cadence Capital Management LLC now owns 144,565 shares of the pipeline company’s stock worth $3,902,000 after acquiring an additional 16,900 shares during the period. Groesbeck Investment Management Corp NJ increased its position in Holly Energy Partners by 9.7% during the first quarter. Groesbeck Investment Management Corp NJ now owns 129,240 shares of the pipeline company’s stock worth $3,488,000 after acquiring an additional 11,393 shares during the period. Finally, Bank of America Corp DE increased its position in Holly Energy Partners by 102.6% during the fourth quarter. Bank of America Corp DE now owns 115,782 shares of the pipeline company’s stock worth $3,307,000 after acquiring an additional 58,623 shares during the period. 31.25% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Barclays reaffirmed a “sell” rating on shares of Holly Energy Partners in a research report on Wednesday, February 20th. Finally, ValuEngine raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Holly Energy Partners currently has a consensus rating of “Hold” and an average target price of $31.00.

Shares of Holly Energy Partners stock opened at $27.39 on Thursday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 15.08 and a beta of 0.73. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.49 and a current ratio of 1.49. Holly Energy Partners, L.P. has a 52-week low of $26.33 and a 52-week high of $34.00.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Wednesday, May 1st. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The firm had revenue of $134.50 million for the quarter, compared to analyst estimates of $128.80 million. Holly Energy Partners had a net margin of 35.92% and a return on equity of 34.88%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. Analysts expect that Holly Energy Partners, L.P. will post 1.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Monday, April 29th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 9.78%. The ex-dividend date was Friday, April 26th. This is a positive change from Holly Energy Partners’s previous quarterly dividend of $0.67. Holly Energy Partners’s payout ratio is 157.65%.

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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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Institutional Ownership by Quarter for Holly Energy Partners (NYSE:HEP)

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