Eaton Vance Management lessened its holdings in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 98,877 shares of the pipeline company’s stock after selling 591 shares during the quarter. Eaton Vance Management owned approximately 0.15% of Holly Energy Partners, L.P. worth $3,211,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Holly Energy Partners, L.P. by 13.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,954,048 shares of the pipeline company’s stock worth $160,907,000 after purchasing an additional 605,976 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Holly Energy Partners, L.P. by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 635,689 shares of the pipeline company’s stock worth $20,647,000 after purchasing an additional 14,433 shares during the period. Spirit of America Management Corp NY lifted its stake in shares of Holly Energy Partners, L.P. by 18.2% during the 2nd quarter. Spirit of America Management Corp NY now owns 457,875 shares of the pipeline company’s stock worth $14,872,000 after purchasing an additional 70,500 shares during the period. Morgan Stanley lifted its stake in shares of Holly Energy Partners, L.P. by 9.4% during the 1st quarter. Morgan Stanley now owns 415,147 shares of the pipeline company’s stock worth $14,825,000 after purchasing an additional 35,828 shares during the period. Finally, Bollard Group LLC lifted its stake in shares of Holly Energy Partners, L.P. by 1.4% during the 2nd quarter. Bollard Group LLC now owns 212,862 shares of the pipeline company’s stock worth $6,914,000 after purchasing an additional 3,038 shares during the period. 46.19% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on HEP. BidaskClub raised Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Holly Energy Partners, L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 26th. Finally, Scotiabank set a $34.00 price target on Holly Energy Partners, L.P. and gave the stock a “hold” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average price target of $37.00.

Holly Energy Partners, L.P. (HEP) opened at 34.23 on Monday. The firm has a 50-day moving average price of $32.88 and a 200 day moving average price of $33.79. Holly Energy Partners, L.P. has a 52-week low of $29.53 and a 52-week high of $38.09. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 28.38 and a beta of 0.87.

Holly Energy Partners, L.P. (NYSE:HEP) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.12). Holly Energy Partners, L.P. had a net margin of 34.06% and a return on equity of 34.14%. The company had revenue of $109.14 million for the quarter, compared to analysts’ expectations of $113.12 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Holly Energy Partners, L.P. will post $1.41 EPS for the current year.

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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.

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

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