HighTower Advisors LLC lessened its holdings in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,074 shares of the pipeline company’s stock after selling 11,870 shares during the quarter. HighTower Advisors LLC owned 0.37% of Holly Energy Partners, L.P. worth $7,795,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC boosted its holdings in Holly Energy Partners, L.P. by 424.8% during the 2nd quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock worth $123,000 after acquiring an additional 3,101 shares during the last quarter. Advisor Group Inc. boosted its holdings in Holly Energy Partners, L.P. by 477.5% during the 2nd quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock worth $137,000 after acquiring an additional 3,476 shares during the last quarter. Creative Planning boosted its holdings in Holly Energy Partners, L.P. by 17.0% during the 2nd quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock worth $175,000 after acquiring an additional 782 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Holly Energy Partners, L.P. by 72.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock worth $194,000 after acquiring an additional 2,286 shares during the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new position in Holly Energy Partners, L.P. during the 1st quarter worth $211,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

A number of equities analysts have issued reports on HEP shares. BidaskClub raised shares of Holly Energy Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Scotiabank set a $34.00 price objective on shares of Holly Energy Partners, L.P. and gave the stock a “hold” rating in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of Holly Energy Partners, L.P. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus price target of $37.00.

Holly Energy Partners, L.P. (HEP) traded down 2.45% during trading on Friday, reaching $33.40. 504,358 shares of the company’s stock were exchanged. The stock has a market cap of $2.15 billion, a PE ratio of 27.69 and a beta of 0.87. Holly Energy Partners, L.P. has a 12 month low of $29.53 and a 12 month high of $38.09. The firm has a 50 day moving average of $32.80 and a 200-day moving average of $33.74.

Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.12). Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. The company 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. Holly Energy Partners, L.P.’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that Holly Energy Partners, L.P. will post $1.41 earnings per share for the current fiscal year.

WARNING: “HighTower Advisors LLC Sells 11,870 Shares of Holly Energy Partners, L.P. (HEP)” was originally published by Watch List News and is the property of of Watch List News. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.watchlistnews.com/hightower-advisors-llc-sells-11870-shares-of-holly-energy-partners-l-p-hep/1601247.html.

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.

Institutional Ownership by Quarter for Holly Energy Partners, L.P. (NYSE:HEP)

Receive News & Ratings for Holly Energy Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.