86,570 Shares in Holly Energy Partners, L.P. (HEP) Purchased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan acquired a new stake in shares of Holly Energy Partners, L.P. (NYSE:HEP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 86,570 shares of the pipeline company’s stock, valued at approximately $2,891,000. Municipal Employees Retirement System of Michigan owned about 0.13% of Holly Energy Partners, L.P. as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HEP. Penserra Capital Management LLC grew its position in shares of 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 valued at $123,000 after buying an additional 3,101 shares during the last quarter. Advisor Group Inc. grew its position in shares of 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 valued at $137,000 after buying an additional 3,476 shares during the last quarter. Creative Planning grew its position in shares of 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 valued at $175,000 after buying an additional 782 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Holly Energy Partners, L.P. by 11.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 7,080 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 713 shares during the period. Finally, Royal Bank of Canada boosted its stake in Holly Energy Partners, L.P. by 0.5% during the 2nd quarter. Royal Bank of Canada now owns 8,800 shares of the pipeline company’s stock valued at $286,000 after purchasing an additional 45 shares during the period. 51.43% of the stock is owned by institutional investors and hedge funds.

Holly Energy Partners, L.P. (NYSE HEP) traded down $0.15 during trading on Monday, reaching $32.75. 63,800 shares of the company’s stock were exchanged, compared to its average volume of 176,723. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $2,070.00, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 10.36 and a beta of 0.89. Holly Energy Partners, L.P. has a 52-week low of $30.10 and a 52-week high of $38.09.

Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. The company had revenue of $110.40 million during the quarter, compared to analyst estimates of $113.01 million. Holly Energy Partners, L.P. had a net margin of 34.35% and a return on equity of 34.29%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. research analysts anticipate that Holly Energy Partners, L.P. will post 1.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th will be paid a $0.645 dividend. This is a positive change from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.63. This represents a $2.58 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date is Friday, November 3rd. Holly Energy Partners, L.P.’s dividend payout ratio is currently 167.53%.

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HEP has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Holly Energy Partners, L.P. from $35.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, October 20th. Zacks Investment Research raised shares of Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. UBS AG reduced their target price on shares of Holly Energy Partners, L.P. from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. BidaskClub lowered shares of Holly Energy Partners, L.P. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, Scotiabank set a $34.00 target price on shares of Holly Energy Partners, L.P. and gave the company a “hold” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $35.50.

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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