California Public Employees Retirement System increased its position in Holly Energy Partners, L.P. (NYSE:HEP) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,910 shares of the pipeline company’s stock after buying an additional 4,700 shares during the period. California Public Employees Retirement System’s holdings in Holly Energy Partners were worth $1,914,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Holly Energy Partners by 574.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 312,082 shares of the pipeline company’s stock valued at $8,913,000 after buying an additional 265,832 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Holly Energy Partners during the fourth quarter worth approximately $6,187,000. Groesbeck Investment Management Corp NJ increased its position in Holly Energy Partners by 9.7% during the first quarter. Groesbeck Investment Management Corp NJ now owns 129,240 shares of the pipeline company’s stock worth $3,488,000 after purchasing an additional 11,393 shares during the last quarter. Bank of America Corp DE increased its position in Holly Energy Partners by 102.6% during the fourth quarter. Bank of America Corp DE now owns 115,782 shares of the pipeline company’s stock worth $3,307,000 after purchasing an additional 58,623 shares during the last quarter. Finally, PFG Advisors acquired a new position in Holly Energy Partners during the fourth quarter worth approximately $2,355,000. 31.25% of the stock is owned by institutional investors and hedge funds.

HEP opened at $27.39 on Thursday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 3.03. Holly Energy Partners, L.P. has a 52-week low of $26.33 and a 52-week high of $34.00. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 15.08 and a beta of 0.73.

Holly Energy Partners (NYSE:HEP) last released its quarterly earnings data on Wednesday, May 1st. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. Holly Energy Partners had a net margin of 35.92% and a return on equity of 34.88%. The company had revenue of $134.50 million during the quarter, compared to the consensus estimate of $128.80 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Holly Energy Partners’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that Holly Energy Partners, L.P. will post 1.82 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Monday, April 29th were paid a dividend of $0.67 per share. This is an increase from Holly Energy Partners’s previous quarterly dividend of $0.67. This represents a $2.68 annualized dividend and a yield of 9.78%. The ex-dividend date of this dividend was Friday, April 26th. Holly Energy Partners’s payout ratio is currently 157.65%.

Several equities analysts recently commented on HEP shares. Zacks Investment Research lowered shares of Holly Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Barclays reaffirmed a “sell” rating on shares of Holly Energy Partners in a research report on Wednesday, February 20th. Finally, ValuEngine raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Holly Energy Partners presently has an average rating of “Hold” and an average target price of $31.00.

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Holly Energy Partners Company 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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Institutional Ownership by Quarter for Holly Energy Partners (NYSE:HEP)

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