Blair William & Co. IL decreased its holdings in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,432 shares of the pipeline company’s stock after selling 2,460 shares during the quarter. Blair William & Co. IL’s holdings in Holly Energy Partners were worth $2,530,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Holly Energy Partners in the third quarter valued at about $122,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Holly Energy Partners in the second quarter valued at about $230,000. Private Advisor Group LLC acquired a new stake in Holly Energy Partners in the third quarter valued at about $238,000. Russell Investments Group Ltd. acquired a new stake in Holly Energy Partners in the third quarter valued at about $286,000. Finally, Truvestments Capital LLC acquired a new stake in Holly Energy Partners in the second quarter valued at about $345,000. Institutional investors and hedge funds own 32.16% of the company’s stock.

In other news, Director Michael Jennings sold 5,000 shares of Holly Energy Partners stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the sale, the director now directly owns 18,877 shares in the company, valued at approximately $544,035.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

HEP stock opened at $28.09 on Thursday. Holly Energy Partners, L.P. has a 12-month low of $26.08 and a 12-month high of $34.62. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $2.97 billion, a PE ratio of 15.96 and a beta of 0.95.

Holly Energy Partners (NYSE:HEP) last posted its quarterly earnings results on Tuesday, October 30th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. Holly Energy Partners had a net margin of 43.25% and a return on equity of 33.48%. The company had revenue of $125.80 million during the quarter, compared to the consensus estimate of $125.79 million. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts forecast that Holly Energy Partners, L.P. will post 1.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Monday, October 29th were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 9.47%. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Friday, October 26th. Holly Energy Partners’s dividend payout ratio (DPR) is presently 151.14%.

A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Scotiabank restated a “hold” rating on shares of Holly Energy Partners in a research report on Tuesday, November 20th. Barclays downgraded shares of Holly Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $28.00 in a research report on Tuesday, September 25th. Finally, Credit Suisse Group assumed coverage on shares of Holly Energy Partners in a research report on Thursday, October 11th. They issued a “neutral” rating and a $33.00 price objective for the company. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $30.75.

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Holly Energy Partners 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.

Further Reading: Consumer Price Index (CPI)

Want to see what other hedge funds are holding HEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Holly Energy Partners, L.P. (NYSE:HEP).

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

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