Creative Planning Has $175,000 Stake in Holly Energy Partners, L.P. (HEP)

Creative Planning increased its position in Holly Energy Partners, L.P. (NYSE:HEP) by 17.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,378 shares of the pipeline company’s stock after buying an additional 782 shares during the period. Creative Planning’s holdings in Holly Energy Partners, L.P. were worth $175,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in Holly Energy Partners, L.P. by 72.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock worth $194,000 after buying an additional 2,286 shares during the period. BNP Paribas Arbitrage SA bought a new position in Holly Energy Partners, L.P. during the first quarter worth $211,000. Proficio Capital Partners LLC bought a new position in Holly Energy Partners, L.P. during the first quarter worth $218,000. Franklin Square Holdings L.P. bought a new position in Holly Energy Partners, L.P. during the first quarter worth $243,000. Finally, Alliancebernstein L.P. bought a new position in Holly Energy Partners, L.P. during the first quarter worth $310,000. 47.73% of the stock is owned by institutional investors.

Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded up 0.06% during midday trading on Thursday, hitting $33.33. The stock had a trading volume of 26,485 shares. The company’s 50-day moving average price is $33.43 and its 200-day moving average price is $34.59. Holly Energy Partners, L.P. has a 12-month low of $29.53 and a 12-month high of $38.09. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 27.64 and a beta of 0.86.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its earnings results on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.12. The business had revenue of $109.14 million for the quarter, compared to analyst estimates of $113.12 million. Holly Energy Partners, L.P. had a return on equity of 34.14% and a net margin of 34.06%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. Equities research analysts forecast that Holly Energy Partners, L.P. will post $1.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.6325 per share. This represents a $2.53 annualized dividend and a yield of 7.60%. This is an increase from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, August 3rd. Holly Energy Partners, L.P.’s dividend payout ratio is presently 207.38%.

COPYRIGHT VIOLATION WARNING: This story was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another publication, it was stolen and republished in violation of United States and international trademark & copyright laws. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/2800456/creative-planning-has-175000-stake-in-holly-energy-partners-l-p-hep.html.

A number of research firms have recently weighed in on HEP. Zacks Investment Research cut Holly Energy Partners, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Scotiabank reissued a “hold” rating and issued a $34.00 price target on shares of Holly Energy Partners, L.P. in a report on Thursday, April 27th. BidaskClub cut Holly Energy Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Bank of America Corporation cut Holly Energy Partners, L.P. from a “buy” rating to an “underperform” rating and cut their price target for the stock from $39.00 to $36.00 in a report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average 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.

Want to see what other hedge funds are holding HEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Holly Energy Partners, L.P. (NYSE:HEP).

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

Receive News & Ratings for Holly Energy Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Holly Energy Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.