Short Interest in Holly Energy Partners, L.P. (NYSE:HEP) Declines By 10.5%

Holly Energy Partners, L.P. (NYSE:HEP) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,530,000 shares, a drop of 10.5% from the January 15th total of 1,710,000 shares. Based on an average daily trading volume, of 336,600 shares, the short-interest ratio is currently 4.5 days. Currently, 3.4% of the company’s shares are short sold.

Several research analysts have recently commented on the company. ValuEngine upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Zacks Investment Research cut Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Cfra upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Co upgraded Holly Energy Partners from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.98.

Shares of NYSE HEP traded down $0.02 during mid-day trading on Friday, hitting $23.45. The company had a trading volume of 443,360 shares. Holly Energy Partners has a 1-year low of $20.81 and a 1-year high of $30.61. The business’s 50-day simple moving average is $23.38 and its 200 day simple moving average is $24.22.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were paid a $0.6725 dividend. This represents a $2.69 annualized dividend and a dividend yield of 11.47%. The ex-dividend date was Friday, January 31st.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arkfeld Wealth Strategies L.L.C. acquired a new stake in Holly Energy Partners in the fourth quarter valued at $1,142,000. Barclays PLC raised its stake in Holly Energy Partners by 255.3% in the third quarter. Barclays PLC now owns 73,864 shares of the pipeline company’s stock valued at $1,867,000 after buying an additional 53,073 shares in the last quarter. California Public Employees Retirement System raised its stake in Holly Energy Partners by 56.6% in the third quarter. California Public Employees Retirement System now owns 108,914 shares of the pipeline company’s stock valued at $2,752,000 after buying an additional 39,377 shares in the last quarter. JS Capital Management LLC acquired a new stake in Holly Energy Partners in the third quarter valued at $249,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Holly Energy Partners in the third quarter valued at $38,000. Institutional investors and hedge funds own 31.34% of the company’s stock.

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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