Sigma Planning Corp acquired a new stake in shares of Holly Energy Partners, L.P. (NYSE:HEP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,754 shares of the pipeline company’s stock, valued at approximately $307,000.
Several other hedge funds and other institutional investors also recently modified their holdings of HEP. Bank of America Corp DE raised its stake in Holly Energy Partners by 33.1% during the second quarter. Bank of America Corp DE now owns 126,036 shares of the pipeline company’s stock worth $3,562,000 after purchasing an additional 31,322 shares during the period. Bank of Montreal Can purchased a new stake in shares of Holly Energy Partners in the 3rd quarter valued at approximately $122,000. Truvestments Capital LLC raised its stake in shares of Holly Energy Partners by 41.5% in the 3rd quarter. Truvestments Capital LLC now owns 17,281 shares of the pipeline company’s stock valued at $544,000 after acquiring an additional 5,070 shares during the period. Pwmco LLC purchased a new stake in shares of Holly Energy Partners in the 3rd quarter valued at approximately $629,000. Finally, First Trust Advisors LP raised its stake in shares of Holly Energy Partners by 2.6% in the 3rd quarter. First Trust Advisors LP now owns 245,744 shares of the pipeline company’s stock valued at $7,731,000 after acquiring an additional 6,168 shares during the period. Institutional investors and hedge funds own 32.15% of the company’s stock.
In related news, Director Michael Jennings sold 5,000 shares of the company’s 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 sale, the director now directly owns 18,877 shares of the company’s stock, valued at approximately $544,035.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on HEP shares. Zacks Investment Research downgraded shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Scotiabank reissued a “hold” rating on shares of Holly Energy Partners in a research note on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Holly Energy Partners currently has a consensus rating of “Hold” and an average price target of $31.33.
Shares of HEP opened at $28.66 on Monday. Holly Energy Partners, L.P. has a fifty-two week low of $26.08 and a fifty-two week high of $34.00. The company has a market cap of $3.02 billion, a P/E ratio of 16.28 and a beta of 0.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.64.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be paid a dividend of $0.6675 per share. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.67. This represents a $2.67 annualized dividend and a yield of 9.32%. The ex-dividend date is Friday, February 1st. Holly Energy Partners’s dividend payout ratio is presently 151.70%.
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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.
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