Global X Management Co. LLC lifted its holdings in Holly Energy Partners, L.P. (NYSE:HEP) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,560 shares of the pipeline company’s stock after acquiring an additional 5,833 shares during the quarter. Global X Management Co. LLC’s holdings in Holly Energy Partners were worth $787,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Holly Energy Partners by 46.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,050 shares of the pipeline company’s stock valued at $197,000 after buying an additional 1,927 shares during the last quarter. Strategic Capital Advisers Inc. acquired a new stake in Holly Energy Partners during the fourth quarter worth about $222,000. Koch Industries Inc. acquired a new stake in shares of Holly Energy Partners during the fourth quarter valued at about $234,000. Jane Street Group LLC acquired a new stake in shares of Holly Energy Partners during the fourth quarter valued at about $395,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in shares of Holly Energy Partners during the fourth quarter valued at about $1,371,000. Hedge funds and other institutional investors own 28.88% of the company’s stock.
Several research analysts have recently commented on HEP shares. Jefferies Group started coverage on shares of Holly Energy Partners in a research note on Wednesday, January 24th. They issued a “hold” rating and a $28.00 price objective for the company. Zacks Investment Research downgraded shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Barclays restated an “equal weight” rating and set a $33.00 price objective (down previously from $34.00) on shares of Holly Energy Partners in a research report on Wednesday, February 21st. UBS restated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Holly Energy Partners in a research report on Friday, March 2nd. Finally, JPMorgan Chase began coverage on shares of Holly Energy Partners in a report on Friday, April 6th. They issued an “underweight” rating and a $30.00 target price on the stock. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.22.
Holly Energy Partners (NYSE:HEP) last posted its earnings results on Tuesday, May 1st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. Holly Energy Partners had a net margin of 45.15% and a return on equity of 35.67%. The firm had revenue of $128.88 million during the quarter, compared to the consensus estimate of $122.74 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue was up 22.0% on a year-over-year basis. analysts expect that Holly Energy Partners, L.P. will post 1.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 10th. Stockholders of record on Monday, April 30th were paid a dividend of $0.655 per share. This is a boost from Holly Energy Partners’s previous quarterly dividend of $0.65. This represents a $2.62 annualized dividend and a dividend yield of 8.77%. The ex-dividend date of this dividend was Friday, April 27th. Holly Energy Partners’s dividend payout ratio is 148.86%.
In other Holly Energy Partners news, Director James H. Lee bought 1,000 shares of Holly Energy Partners stock in a transaction dated Friday, March 23rd. The stock was bought at an average cost of $26.89 per share, for a total transaction of $26,890.00. Following the purchase, the director now owns 5,754 shares in the company, valued at approximately $154,725.06. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James H. Lee acquired 2,000 shares of Holly Energy Partners stock in a transaction that occurred on Monday, March 26th. The shares were purchased at an average price of $26.78 per share, for a total transaction of $53,560.00. Following the completion of the purchase, the director now directly owns 5,754 shares of the company’s stock, valued at $154,092.12. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
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 of HollyFrontier Corporation in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.
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