OppenheimerFunds Inc. boosted its holdings in Holly Energy Partners, L.P. (NYSE:HEP) by 6.7% in the second quarter, Holdings Channel reports. The institutional investor owned 6,491,090 shares of the pipeline company’s stock after buying an additional 406,275 shares during the period. OppenheimerFunds Inc. owned 0.06% of Holly Energy Partners worth $183,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tortoise Capital Advisors L.L.C. raised its holdings in Holly Energy Partners by 1.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,652,705 shares of the pipeline company’s stock valued at $188,005,000 after buying an additional 73,625 shares during the last quarter. Alps Advisors Inc. increased its position in Holly Energy Partners by 15.4% during the 2nd quarter. Alps Advisors Inc. now owns 3,803,218 shares of the pipeline company’s stock valued at $107,479,000 after purchasing an additional 508,610 shares during the period. UBS Group AG increased its position in Holly Energy Partners by 5.1% during the 1st quarter. UBS Group AG now owns 1,800,536 shares of the pipeline company’s stock valued at $49,641,000 after purchasing an additional 87,150 shares during the period. JPMorgan Chase & Co. increased its position in Holly Energy Partners by 4.8% during the 1st quarter. JPMorgan Chase & Co. now owns 784,021 shares of the pipeline company’s stock valued at $21,616,000 after purchasing an additional 36,192 shares during the period. Finally, Tiedemann Advisors LLC increased its position in Holly Energy Partners by 14.4% during the 1st quarter. Tiedemann Advisors LLC now owns 629,678 shares of the pipeline company’s stock valued at $17,360,000 after purchasing an additional 79,155 shares during the period. Institutional investors and hedge funds own 31.27% of the company’s stock.

A number of research firms have weighed in on HEP. Zacks Investment Research downgraded shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. ValuEngine downgraded shares of Holly Energy Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. decreased their target price on shares of Holly Energy Partners from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. Finally, Scotiabank reissued a “hold” rating and set a $33.00 target price on shares of Holly Energy Partners in a research report on Monday, August 20th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.78.

NYSE:HEP opened at $29.30 on Friday. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 16.65 and a beta of 0.88. Holly Energy Partners, L.P. has a fifty-two week low of $26.08 and a fifty-two week high of $36.02. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.12 and a quick ratio of 1.12.

Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings data on Wednesday, August 1st. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.03). The company had revenue of $118.76 million for the quarter, compared to analyst estimates of $123.41 million. Holly Energy Partners had a return on equity of 34.10% and a net margin of 44.01%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. sell-side analysts expect that Holly Energy Partners, L.P. will post 1.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 9th. Stockholders of record on Monday, July 30th were given a dividend of $0.66 per share. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, July 27th. This represents a $2.64 annualized dividend and a dividend yield of 9.01%. Holly Energy Partners’s dividend payout ratio (DPR) is 150.00%.

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

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