Mercer Global Advisors Inc. ADV Increases Stock Holdings in Holly Energy Partners, L.P. (NYSE:HEP)

Mercer Global Advisors Inc. ADV raised its position in shares of Holly Energy Partners, L.P. (NYSE:HEP – Get Rating) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 28,242 shares of the pipeline company’s stock after buying an additional 1,249 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Holly Energy Partners were worth $512,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC raised its holdings in Holly Energy Partners by 246.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 1,797 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,279 shares during the period. Belpointe Asset Management LLC acquired a new position in Holly Energy Partners in the 4th quarter worth about $45,000. Credit Suisse AG acquired a new position in Holly Energy Partners in the 2nd quarter worth about $77,000. Maryland State Retirement & Pension System acquired a new position in shares of Holly Energy Partners during the fourth quarter valued at approximately $196,000. Finally, Pacer Advisors Inc. grew its position in shares of Holly Energy Partners by 16.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,608 shares of the pipeline company’s stock valued at $210,000 after purchasing an additional 1,606 shares in the last quarter. Hedge funds and other institutional investors own 25.30% of the company’s stock.

Holly Energy Partners Trading Up 0.2 %

Shares of Holly Energy Partners stock opened at $17.14 on Monday. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 9.68 and a beta of 0.90. Holly Energy Partners, L.P. has a fifty-two week low of $15.12 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a 50 day moving average of $17.06 and a 200 day moving average of $18.04.

Holly Energy Partners (NYSE:HEP – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The pipeline company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Holly Energy Partners had a return on equity of 24.44% and a net margin of 39.39%. The company had revenue of $143.30 million during the quarter, compared to analyst estimates of $124.62 million. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, research analysts predict that Holly Energy Partners, L.P. will post 2.06 earnings per share for the current year.

Holly Energy Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Shareholders of record on Monday, May 1st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date of this dividend was Friday, April 28th. Holly Energy Partners’s dividend payout ratio is presently 79.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HEP shares. Raymond James upped their price target on Holly Energy Partners from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, January 23rd. StockNews.com started coverage on Holly Energy Partners in a research report on Wednesday, May 17th. They issued a “buy” rating for the company.

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.