Holly Energy Partners, L.P. (HEP) to Issue Quarterly Dividend of $0.35 on February 13th

Holly Energy Partners, L.P. (NYSE:HEPGet Rating) declared a quarterly dividend on Friday, January 20th, Wall Street Journal reports. Investors of record on Monday, January 30th will be paid a dividend of 0.35 per share by the pipeline company on Monday, February 13th. This represents a $1.40 annualized dividend and a dividend yield of 7.12%. The ex-dividend date is Friday, January 27th.

Holly Energy Partners has decreased its dividend by an average of 19.5% per year over the last three years. Holly Energy Partners has a payout ratio of 68.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Holly Energy Partners to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 66.7%.

Holly Energy Partners Trading Down 0.3 %

Shares of Holly Energy Partners stock opened at $19.65 on Wednesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a fifty day moving average price of $18.59 and a 200 day moving average price of $18.01. Holly Energy Partners has a 1 year low of $15.12 and a 1 year high of $20.00. The stock has a market cap of $2.48 billion, a PE ratio of 11.84 and a beta of 0.89.

Holly Energy Partners (NYSE:HEPGet Rating) last released its quarterly earnings results on Monday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.16). The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $139.69 million. Holly Energy Partners had a net margin of 37.05% and a return on equity of 23.54%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts predict that Holly Energy Partners will post 1.73 earnings per share for the current year.

Institutional Trading of Holly Energy Partners

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SNC lifted its stake in shares of Holly Energy Partners by 246.9% in the third quarter. BNP Paribas Arbitrage SNC now owns 1,797 shares of the pipeline company’s stock worth $29,000 after buying an additional 1,279 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Holly Energy Partners in the 2nd quarter valued at approximately $77,000. Neuberger Berman Group LLC purchased a new stake in shares of Holly Energy Partners in the 3rd quarter valued at approximately $197,000. Jane Street Group LLC purchased a new stake in shares of Holly Energy Partners in the 2nd quarter valued at approximately $327,000. Finally, Captrust Financial Advisors grew its holdings in shares of Holly Energy Partners by 5.1% in the second quarter. Captrust Financial Advisors now owns 20,600 shares of the pipeline company’s stock valued at $330,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 25.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HEP. StockNews.com began coverage on shares of Holly Energy Partners in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays raised their price target on shares of Holly Energy Partners from $17.00 to $18.00 in a research report on Tuesday, January 10th. Citigroup initiated coverage on shares of Holly Energy Partners in a research report on Thursday, December 8th. They issued a “neutral” rating and a $19.00 target price on the stock. Finally, Raymond James lifted their target price on shares of Holly Energy Partners from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday.

About Holly Energy Partners

(Get Rating)

Holly Energy Partners, L.P. provides petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry in the United States. It operates through two segments, Pipelines and Terminals, and Refinery Processing Unit. The company operates refined product pipelines that transport conventional gasolines, reformulated gasolines, and low-octane gasolines for oxygenate blending, as well as sulfur diesel and jet fuels, and liquefied petroleum gases; intermediate product pipelines that transport intermediate feedstocks and crude oils; and oil trunk, gathering, and connection pipelines that delivers crude oil.

See Also

Dividend History for Holly Energy Partners (NYSE:HEP)

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