Migdal Insurance & Financial Holdings Ltd. Lowers Stake in Holly Energy Partners, L.P. (HEP)

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 67.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,264 shares of the pipeline company’s stock after selling 13,278 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Holly Energy Partners, L.P. were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HEP. Penserra Capital Management LLC grew its stake in shares of Holly Energy Partners, L.P. by 424.8% during the 2nd quarter. Penserra Capital Management LLC now owns 3,831 shares of the pipeline company’s stock valued at $123,000 after buying an additional 3,101 shares during the period. Advisor Group Inc. grew its stake in shares of Holly Energy Partners, L.P. by 477.5% during the 2nd quarter. Advisor Group Inc. now owns 4,204 shares of the pipeline company’s stock valued at $137,000 after buying an additional 3,476 shares during the period. Creative Planning grew its stake in shares of Holly Energy Partners, L.P. by 17.0% during the 2nd quarter. Creative Planning now owns 5,378 shares of the pipeline company’s stock valued at $175,000 after buying an additional 782 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Holly Energy Partners, L.P. by 72.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the pipeline company’s stock valued at $194,000 after buying an additional 2,286 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of Holly Energy Partners, L.P. during the 1st quarter valued at $211,000. 46.19% of the stock is owned by institutional investors.

Shares of Holly Energy Partners, L.P. (NYSE:HEP) traded down 0.4804% during mid-day trading on Wednesday, hitting $34.2646. 20,702 shares of the stock traded hands. The stock has a 50-day moving average of $33.43 and a 200-day moving average of $33.75. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 28.4118 and a beta of 0.88. Holly Energy Partners, L.P. has a 52 week low of $29.53 and a 52 week high of $38.09.

Holly Energy Partners, L.P. (NYSE:HEP) last announced its quarterly 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). Holly Energy Partners, L.P. had a return on equity of 34.14% and a net margin of 34.06%. The business had revenue of $109.14 million for the quarter, compared to analyst estimates of $113.12 million. During the same quarter last year, the company earned $0.45 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that Holly Energy Partners, L.P. will post $1.39 EPS for the current year.

Several analysts have recently issued reports on HEP shares. BidaskClub raised shares of Holly Energy Partners, L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Holly Energy Partners, L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Scotiabank set a $34.00 price objective on shares of Holly Energy Partners, L.P. and gave the company 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 given a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $35.00.

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Holly Energy Partners, L.P. Profile

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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