Holly Energy Partners, L.P. (HEP) Posts Earnings Results, Misses Expectations By $0.12 EPS

Holly Energy Partners, L.P. (NYSE:HEP) issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.12, Morningstar.com reports. Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. The business had revenue of $109.14 million for the quarter, compared to the consensus estimate of $113.12 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis.

Shares of Holly Energy Partners, L.P. (HEP) opened at 30.76 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 25.51 and a beta of 0.86. Holly Energy Partners, L.P. has a 1-year low of $29.53 and a 1-year high of $38.09. The stock’s 50 day moving average price is $33.48 and its 200-day moving average price is $34.36.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a dividend of $0.6325 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date of this dividend was Thursday, August 3rd. This is a positive change from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.62. Holly Energy Partners, L.P.’s dividend payout ratio is 207.38%.

A number of institutional investors have recently made changes to their positions in HEP. Renaissance Technologies LLC increased its position in shares of Holly Energy Partners, L.P. by 120.8% in the fourth quarter. Renaissance Technologies LLC now owns 74,851 shares of the pipeline company’s stock valued at $2,400,000 after buying an additional 40,951 shares during the period. Weaver C. Barksdale & Associates Inc. increased its position in shares of Holly Energy Partners, L.P. by 40.2% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 41,089 shares of the pipeline company’s stock valued at $1,467,000 after buying an additional 11,780 shares during the period. Spirit of America Management Corp NY increased its position in shares of Holly Energy Partners, L.P. by 48.9% in the first quarter. Spirit of America Management Corp NY now owns 387,375 shares of the pipeline company’s stock valued at $13,833,000 after buying an additional 127,148 shares during the period. Bollard Group LLC increased its position in shares of Holly Energy Partners, L.P. by 11.9% in the first quarter. Bollard Group LLC now owns 209,824 shares of the pipeline company’s stock valued at $7,493,000 after buying an additional 22,328 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Holly Energy Partners, L.P. during the first quarter valued at approximately $211,000. 47.15% of the stock is currently owned by institutional investors.

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A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Holly Energy Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Scotiabank reiterated a “hold” rating and set a $34.00 price target on shares of Holly Energy Partners, L.P. in a research report on Thursday, April 27th. BidaskClub lowered Holly Energy Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Bank of America Corporation lowered Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $39.00 to $36.00 in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.75.

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.

Earnings History for Holly Energy Partners, L.P. (NYSE:HEP)

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