Holly Energy Partners, L.P. (NYSE:HEP) Short Interest Up 19.1% in April

Holly Energy Partners, L.P. (NYSE:HEPGet Rating) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,370,000 shares, an increase of 19.1% from the March 31st total of 1,150,000 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 307,400 shares, the short-interest ratio is presently 4.5 days.

HEP has been the topic of several research reports. Raymond James lowered their price target on shares of Holly Energy Partners from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 23rd. Zacks Investment Research raised shares of Holly Energy Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Barclays reduced their price objective on shares of Holly Energy Partners from $17.00 to $15.00 in a research note on Thursday, February 24th. StockNews.com cut shares of Holly Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, April 1st. Finally, TheStreet cut shares of Holly Energy Partners from a “b-” rating to a “c” rating in a research note on Tuesday, March 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.67.

A number of hedge funds have recently added to or reduced their stakes in HEP. Selective Wealth Management Inc. purchased a new stake in shares of Holly Energy Partners in the 1st quarter valued at $39,000. Virtu Financial LLC purchased a new stake in shares of Holly Energy Partners in the 4th quarter valued at $169,000. BNP Paribas Arbitrage SA boosted its stake in shares of Holly Energy Partners by 20.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,204 shares of the pipeline company’s stock valued at $242,000 after purchasing an additional 2,212 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Holly Energy Partners by 25.7% in the 4th quarter. Guggenheim Capital LLC now owns 13,858 shares of the pipeline company’s stock valued at $229,000 after purchasing an additional 2,836 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Holly Energy Partners by 329.0% in the 3rd quarter. Jane Street Group LLC now owns 15,803 shares of the pipeline company’s stock valued at $290,000 after purchasing an additional 22,703 shares in the last quarter.

HEP stock opened at $17.82 on Wednesday. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.23 and a quick ratio of 1.23. Holly Energy Partners has a one year low of $15.61 and a one year high of $23.69. The stock has a market cap of $2.25 billion, a PE ratio of 8.78 and a beta of 0.87. The firm has a 50 day simple moving average of $17.51 and a two-hundred day simple moving average of $17.64.

Holly Energy Partners (NYSE:HEPGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The pipeline company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). Holly Energy Partners had a return on equity of 34.42% and a net margin of 43.47%. The company had revenue of $118.50 million during the quarter, compared to analysts’ expectations of $119.37 million. During the same period in the prior year, the firm earned $0.49 EPS. Holly Energy Partners’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts expect that Holly Energy Partners will post 1.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Monday, May 2nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 7.86%. Holly Energy Partners’s dividend payout ratio is presently 68.97%.

About Holly Energy Partners (Get Rating)

Holly Energy Partners, L.P. provides petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry in the United States. It operates through two segments, Pipelines and Terminals, and Refinery Processing Unit. The company operates refined product pipelines that transport conventional gasolines, reformulated gasolines, and low-octane gasolines for oxygenate blending, as well as sulfur diesel and jet fuels, and liquefied petroleum gases; intermediate product pipelines that transport intermediate feedstocks and crude oils; and oil trunk, gathering, and connection pipelines that delivers crude oil.

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