Holly Energy Partners, L.P. (NYSE:HEP) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its holdings in Holly Energy Partners, L.P. (NYSE:HEP – Get Rating) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,944 shares of the pipeline company’s stock after selling 3,770 shares during the period. Capital Investment Advisors LLC’s holdings in Holly Energy Partners were worth $796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SNC lifted its stake in shares of Holly Energy Partners by 246.9% in the third quarter. BNP Paribas Arbitrage SNC now owns 1,797 shares of the pipeline company’s stock worth $29,000 after buying an additional 1,279 shares in the last quarter. Selective Wealth Management Inc. lifted its stake in shares of Holly Energy Partners by 21.3% in the third quarter. Selective Wealth Management Inc. now owns 4,555 shares of the pipeline company’s stock worth $75,000 after buying an additional 800 shares in the last quarter. Credit Suisse AG purchased a new position in shares of Holly Energy Partners in the second quarter worth about $77,000. AE Wealth Management LLC purchased a new position in Holly Energy Partners during the third quarter worth about $170,000. Finally, Neuberger Berman Group LLC purchased a new position in Holly Energy Partners during the third quarter worth about $197,000. 25.30% of the stock is owned by hedge funds and other institutional investors.

Holly Energy Partners Price Performance

Shares of HEP opened at $17.61 on Friday. Holly Energy Partners, L.P. has a 1-year low of $15.12 and a 1-year high of $20.00. The stock has a market cap of $2.23 billion, a PE ratio of 9.95 and a beta of 0.92. The firm has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $18.31. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.20 and a quick ratio of 1.20.

Holly Energy Partners (NYSE:HEP – Get Rating) last announced its quarterly earnings results on Friday, February 24th. The pipeline company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Holly Energy Partners had a net margin of 39.60% and a return on equity of 23.88%. The business had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $148.10 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. As a group, analysts forecast that Holly Energy Partners, L.P. will post 2.07 EPS for the current year.

Holly Energy Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Monday, January 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date was Friday, January 27th. Holly Energy Partners’s dividend payout ratio (DPR) is currently 79.10%.

Analyst Ratings Changes

A number of brokerages have commented on HEP. Raymond James lifted their target price on shares of Holly Energy Partners from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, January 23rd. Citigroup began coverage on shares of Holly Energy Partners in a research note on Thursday, December 8th. They set a “neutral” rating and a $19.00 target price on the stock. Barclays lifted their target price on shares of Holly Energy Partners from $17.00 to $18.00 in a research note on Tuesday, January 10th. Finally, StockNews.com began coverage on shares of Holly Energy Partners in a research note on Thursday. They set a “hold” rating on the stock.

Holly Energy Partners Profile

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Holly Energy Partners LP engages in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities. It operates through the Pipelines and Terminals, and Refinery Processing Unit segments. The Pipelines and Terminals segment includes petroleum products, crude pipelines and terminal, tankage, and loading rack facilities.