SG Americas Securities LLC acquired a new position in Holly Energy Partners, L.P. (NYSE:HEP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 91,634 shares of the pipeline company’s stock, valued at approximately $2,883,000.
A number of other hedge funds have also bought and sold shares of the business. Bank of Montreal Can purchased a new position in Holly Energy Partners in the third quarter worth $122,000. Groesbeck Investment Management Corp NJ boosted its position in Holly Energy Partners by 3.5% in the second quarter. Groesbeck Investment Management Corp NJ now owns 128,329 shares of the pipeline company’s stock worth $3,627,000 after purchasing an additional 4,363 shares during the last quarter. Global X Management Co LLC boosted its position in Holly Energy Partners by 15.3% in the second quarter. Global X Management Co LLC now owns 32,923 shares of the pipeline company’s stock worth $930,000 after purchasing an additional 4,363 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Holly Energy Partners by 41.5% in the third quarter. Truvestments Capital LLC now owns 17,281 shares of the pipeline company’s stock valued at $544,000 after buying an additional 5,070 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Holly Energy Partners by 2.6% in the third quarter. First Trust Advisors LP now owns 245,744 shares of the pipeline company’s stock valued at $7,731,000 after buying an additional 6,168 shares during the period. 32.28% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on HEP. ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Barclays lowered Holly Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $30.00 to $28.00 in a research note on Tuesday, September 25th. Scotiabank reiterated a “hold” rating and set a $33.00 price objective on shares of Holly Energy Partners in a research note on Monday, August 20th. Credit Suisse Group initiated coverage on Holly Energy Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $33.00 target price on the stock. Finally, Zacks Investment Research lowered Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.75.
Shares of NYSE HEP opened at $28.44 on Monday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 16.16 and a beta of 0.94. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.46 and a current ratio of 1.46. Holly Energy Partners, L.P. has a twelve month low of $26.08 and a twelve month high of $34.62.
Holly Energy Partners (NYSE:HEP) last announced its earnings results on Tuesday, October 30th. The pipeline company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $125.80 million for the quarter, compared to analyst estimates of $125.79 million. Holly Energy Partners had a return on equity of 33.48% and a net margin of 43.25%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. Research analysts forecast that Holly Energy Partners, L.P. will post 1.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Monday, October 29th were paid a $0.665 dividend. This is a positive change from Holly Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.66 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date was Friday, October 26th. Holly Energy Partners’s dividend payout ratio is currently 151.14%.
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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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