Tortoise Capital Advisors L.L.C. grew its holdings in Holly Energy Partners, L.P. (NYSE:HEP) by 1,380.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,293 shares of the pipeline company’s stock after purchasing an additional 467,440 shares during the quarter. Tortoise Capital Advisors L.L.C. owned about 0.48% of Holly Energy Partners worth $9,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in HEP. LPL Financial LLC lifted its stake in shares of Holly Energy Partners by 28.0% in the 4th quarter. LPL Financial LLC now owns 16,498 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 3,606 shares during the period. Jane Street Group LLC acquired a new position in shares of Holly Energy Partners in the 4th quarter valued at about $147,000. JPMorgan Chase & Co. lifted its stake in shares of Holly Energy Partners by 6.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,623,424 shares of the pipeline company’s stock valued at $23,053,000 after purchasing an additional 95,451 shares during the period. Childress Capital Advisors LLC bought a new stake in Holly Energy Partners in the 4th quarter valued at about $25,000. Finally, Miller Howard Investments Inc. NY increased its position in Holly Energy Partners by 0.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 310,108 shares of the pipeline company’s stock valued at $5,926,000 after buying an additional 2,774 shares in the last quarter. 29.82% of the stock is currently owned by institutional investors.
A number of analysts recently commented on HEP shares. Wells Fargo & Company boosted their target price on Holly Energy Partners from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, June 24th. Raymond James boosted their price objective on Holly Energy Partners from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Zacks Investment Research lowered Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $21.00 price objective (up from $19.00) on shares of Holly Energy Partners in a report on Monday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Holly Energy Partners currently has a consensus rating of “Hold” and an average price target of $20.50.
Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, May 4th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $124.52 million. Holly Energy Partners had a return on equity of 39.33% and a net margin of 42.24%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. On average, sell-side analysts predict that Holly Energy Partners, L.P. will post 2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Monday, May 3rd were issued a $0.35 dividend. The ex-dividend date was Friday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.74%. Holly Energy Partners’s payout ratio is currently 74.47%.
About Holly Energy Partners
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 in Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Idaho, and Washington.
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