Bank of Montreal Can increased its holdings in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 1,239.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,136 shares of the pipeline company’s stock after purchasing an additional 48,243 shares during the period. Bank of Montreal Can’s holdings in Holly Energy Partners were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of HEP. Arlington Partners LLC purchased a new position in shares of Holly Energy Partners during the fourth quarter worth $43,000. Northern Oak Wealth Management Inc. raised its holdings in shares of Holly Energy Partners by 80.6% during the third quarter. Northern Oak Wealth Management Inc. now owns 5,600 shares of the pipeline company’s stock worth $176,000 after purchasing an additional 2,500 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Holly Energy Partners during the third quarter worth $207,000. Private Advisor Group LLC acquired a new stake in Holly Energy Partners during the third quarter valued at $238,000. Finally, Russell Investments Group Ltd. acquired a new stake in Holly Energy Partners during the third quarter valued at $286,000. 32.15% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on HEP. Zacks Investment Research upgraded shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Scotiabank restated a “hold” rating on shares of Holly Energy Partners in a research report on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $31.33.
HEP stock opened at $29.29 on Thursday. The firm has a market cap of $3.12 billion, a P/E ratio of 16.64 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. Holly Energy Partners, L.P. has a one year low of $26.08 and a one year high of $34.00.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 9.12%. The ex-dividend date of this dividend is Friday, February 1st. This is a positive change from Holly Energy Partners’s previous quarterly dividend of $0.67. Holly Energy Partners’s dividend payout ratio (DPR) is currently 151.70%.
In related news, Director Michael Jennings sold 5,000 shares of the firm’s stock in a transaction 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 owns 18,877 shares in the company, valued at $544,035.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by company insiders.
About Holly Energy Partners
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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