Global X Management Co. LLC raised its position in Holly Energy Partners, L.P. (NYSE:HEP) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,387 shares of the pipeline company’s stock after buying an additional 2,611 shares during the period. Global X Management Co. LLC’s holdings in Holly Energy Partners, L.P. were worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp acquired a new position in shares of Holly Energy Partners, L.P. during the first quarter worth $329,000. Franklin Square Holdings L.P. acquired a new position in shares of Holly Energy Partners, L.P. during the first quarter worth $243,000. Renaissance Technologies LLC raised 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 worth $2,400,000 after buying an additional 40,951 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Holly Energy Partners, L.P. by 48.1% in the first quarter. Van ECK Associates Corp now owns 45,964 shares of the pipeline company’s stock worth $1,641,000 after buying an additional 14,933 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Holly Energy Partners, L.P. by 9.4% in the first quarter. Morgan Stanley now owns 415,147 shares of the pipeline company’s stock worth $14,825,000 after buying an additional 35,828 shares in the last quarter. 47.15% of the stock is currently owned by hedge funds and other institutional investors.

Holly Energy Partners, L.P. (NYSE HEP) opened at 32.27 on Tuesday. Holly Energy Partners, L.P. has a one year low of $29.53 and a one year high of $38.09. The company’s 50-day moving average price is $33.56 and its 200-day moving average price is $34.49. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 26.76 and a beta of 0.86.

Holly Energy Partners, L.P. (NYSE:HEP) last announced its 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. The business had revenue of $109.14 million for the quarter, compared to the consensus estimate of $113.12 million. Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. On average, analysts anticipate that Holly Energy Partners, L.P. will post $1.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a dividend of $0.6325 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.53 annualized dividend and a yield of 7.84%. This is an increase from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.62. Holly Energy Partners, L.P.’s payout ratio is presently 207.38%.

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HEP has been the topic of a number of recent analyst reports. Zacks Investment Research raised Holly Energy Partners, L.P. from a “sell” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, April 25th. BidaskClub raised Holly Energy Partners, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. 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 stock from $39.00 to $36.00 in a report on Thursday, May 4th. Finally, Scotiabank reaffirmed a “hold” rating and set a $34.00 price objective on shares of Holly Energy Partners, L.P. in a report on Thursday, April 27th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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.

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

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