Infrastructure Capital Advisors LLC Has $13.27 Million Holdings in Holly Energy Partners, L.P. (NYSE:HEP)

Infrastructure Capital Advisors LLC raised its position in Holly Energy Partners, L.P. (NYSE:HEP) by 19.5% in the second quarter, HoldingsChannel reports. The fund owned 586,252 shares of the pipeline company’s stock after purchasing an additional 95,598 shares during the quarter. Holly Energy Partners makes up approximately 2.4% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 16th largest holding. Infrastructure Capital Advisors LLC’s holdings in Holly Energy Partners were worth $13,267,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Advisor Group Holdings Inc. boosted its position in shares of Holly Energy Partners by 9.3% during the second quarter. Advisor Group Holdings Inc. now owns 6,270 shares of the pipeline company’s stock valued at $143,000 after buying an additional 531 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Holly Energy Partners by 7.9% during the first quarter. Royal Bank of Canada now owns 30,980 shares of the pipeline company’s stock valued at $592,000 after buying an additional 2,267 shares during the last quarter. Tortoise Index Solutions LLC boosted its position in shares of Holly Energy Partners by 8.9% during the first quarter. Tortoise Index Solutions LLC now owns 36,869 shares of the pipeline company’s stock valued at $705,000 after buying an additional 3,016 shares during the last quarter. Vident Investment Advisory LLC boosted its position in shares of Holly Energy Partners by 8.9% during the first quarter. Vident Investment Advisory LLC now owns 36,869 shares of the pipeline company’s stock valued at $705,000 after buying an additional 3,016 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Holly Energy Partners by 2.2% during the second quarter. HighTower Advisors LLC now owns 151,886 shares of the pipeline company’s stock valued at $3,437,000 after buying an additional 3,303 shares during the last quarter. 33.14% of the stock is currently owned by institutional investors.

Shares of HEP traded up $0.39 during mid-day trading on Thursday, hitting $20.22. The stock had a trading volume of 2,359 shares, compared to its average volume of 267,006. The firm has a market cap of $2.13 billion, a P/E ratio of 11.02 and a beta of 1.07. The business has a fifty day moving average price of $18.56 and a 200-day moving average price of $20.22. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.21 and a quick ratio of 1.21. Holly Energy Partners, L.P. has a 52 week low of $10.48 and a 52 week high of $23.69.

Holly Energy Partners (NYSE:HEP) last issued its earnings results on Tuesday, August 3rd. The pipeline company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The firm had revenue of $126.24 million for the quarter, compared to analyst estimates of $127.15 million. Holly Energy Partners had a return on equity of 38.18% and a net margin of 37.22%. As a group, research analysts expect that Holly Energy Partners, L.P. will post 2.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Monday, August 2nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.92%. Holly Energy Partners’s payout ratio is presently 74.47%.

In other news, CEO Michael Jennings bought 7,500 shares of the stock in a transaction on Tuesday, August 10th. The shares were purchased at an average cost of $17.95 per share, for a total transaction of $134,625.00. Following the completion of the purchase, the chief executive officer now directly owns 26,377 shares in the company, valued at approximately $473,467.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

Several brokerages recently issued reports on HEP. JPMorgan Chase & Co. cut Holly Energy Partners from a “neutral” rating to an “underweight” rating and cut their target price for the company from $24.00 to $20.00 in a research report on Wednesday, August 4th. Raymond James dropped their price target on Holly Energy Partners from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, August 4th. Credit Suisse Group dropped their price target on Holly Energy Partners from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, August 10th. Wells Fargo & Company lifted their price target on Holly Energy Partners from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, June 24th. Finally, Zacks Investment Research lowered Holly Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, October 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.33.

About Holly Energy Partners

Holly Energy Partners LP engages in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities and refinery processing units. It operates through Pipelines & Terminals and Refinery Processing Unit segments. The company was founded in 2004 and is headquartered in Dallas, TX.

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Institutional Ownership by Quarter for Holly Energy Partners (NYSE:HEP)

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