Holly Energy Partners, L.P. (NYSE:HEP) announced a dividend on Thursday, October 26th, Fidelity reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.645 per share by the pipeline company on Tuesday, November 14th. The ex-dividend date of this dividend is Friday, November 3rd.
Holly Energy Partners, L.P. has increased its dividend by an average of 6.4% annually over the last three years and has raised its dividend every year for the last 13 years. Holly Energy Partners, L.P. has a payout ratio of 185.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Holly Energy Partners, L.P. to earn $1.78 per share next year, which means the company may not be able to cover its $2.58 annual dividend with an expected future payout ratio of 144.9%.
Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded up 2.92% during trading on Friday, hitting $33.53. The stock had a trading volume of 135,097 shares. The stock’s 50-day moving average is $34.12 and its 200-day moving average is $33.61. Holly Energy Partners, L.P. has a 12-month low of $29.53 and a 12-month high of $38.09. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 27.80 and a beta of 0.88.
Holly Energy Partners, L.P. (NYSE:HEP) last announced its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.12). The firm had revenue of $109.14 million during the quarter, compared to analyst estimates of $113.12 million. Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. Holly Energy Partners, L.P.’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, equities research analysts expect that Holly Energy Partners, L.P. will post $1.36 EPS for the current year.
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HEP has been the subject of a number of research reports. BidaskClub downgraded shares of Holly Energy Partners, L.P. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. UBS AG cut their price objective on Holly Energy Partners, L.P. from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Scotiabank set a $34.00 price objective on Holly Energy Partners, L.P. and gave the stock a “hold” rating in a research report on Friday, October 20th. Zacks Investment Research downgraded Holly Energy Partners, L.P. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company cut their price objective on Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.00.
About Holly Energy Partners, L.P.
Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.
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