Holly Energy Partners, L.P. (HEP) Position Held by Kings Point Capital Management

Kings Point Capital Management continued to hold its stake in shares of Holly Energy Partners, L.P. (NYSE:HEP) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,600 shares of the pipeline company’s stock at the end of the first quarter. Kings Point Capital Management’s holdings in Holly Energy Partners, L.P. were worth $164,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Spirit of America Management Corp NY raised its stake 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 worth $13,833,000 after buying an additional 127,148 shares in the last quarter. Weaver C. Barksdale & Associates Inc. raised its stake 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 worth $1,467,000 after buying an additional 11,780 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Holly Energy Partners, L.P. during the fourth quarter worth about $612,000. United Capital Financial Advisers LLC raised its position in Holly Energy Partners, L.P. by 0.4% in the fourth quarter. United Capital Financial Advisers LLC now owns 47,668 shares of the pipeline company’s stock worth $1,528,000 after buying an additional 200 shares during the period. Finally, Energy Income Partners LLC bought a new position in Holly Energy Partners, L.P. during the fourth quarter worth $192,649,000. 46.46% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Holly Energy Partners, L.P. (NYSE:HEP) opened at 32.10 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of 24.92 and a beta of 0.82. Holly Energy Partners, L.P. has a one year low of $29.53 and a one year high of $38.09. The firm’s 50-day moving average price is $33.73 and its 200 day moving average price is $34.54.

Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.36. The business had revenue of $105.63 million during the quarter, compared to the consensus estimate of $117 million. Holly Energy Partners, L.P. had a return on equity of 35.38% and a net margin of 34.72%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities research analysts expect that Holly Energy Partners, L.P. will post $1.66 EPS for the current fiscal year.

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A number of research firms have weighed in on HEP. Zacks Investment Research lowered Holly Energy Partners, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Scotiabank reiterated a “hold” rating and issued a $34.00 price objective on shares of Holly Energy Partners, L.P. in a report on Thursday, April 27th. Finally, Bank of America Corporation downgraded Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and cut their price objective for the company from $39.00 to $36.00 in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $36.40.

Holly Energy Partners, L.P. Company Profile

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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