Energy Income Partners buys $173,424,778 stake in Holly Energy Partners L.P. (HEP)

Holly Energy Partners L.P. (HEP) : Energy Income Partners scooped up 824,238 additional shares in Holly Energy Partners L.P. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 5,695,395 shares of Holly Energy Partners L.P. which is valued at $173,424,778.Holly Energy Partners L.P. makes up approximately 3.75% of Energy Income Partners’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild boosted its stake in HEP in the latest quarter, The investment management firm added 604 additional shares and now holds a total of 904 shares of Holly Energy Partners L.P. which is valued at $26,849.Advocacy Wealth Management Services reduced its stake in HEP by selling 6,911 shares or 95.84% in the most recent quarter. The Hedge Fund company now holds 300 shares of HEP which is valued at $9,888.

Holly Energy Partners L.P. closed down -0.56 points or -1.81% at $30.35 with 1,25,087 shares getting traded on Monday. Post opening the session at $30.94, the shares hit an intraday low of $30.12 and an intraday high of $31.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Holly Energy Partners L.P. reported $0.33 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Nov 2, 2016. Analyst had a consensus of $0.43. The company had revenue of $92.61 million for the quarter, compared to analysts expectations of $97.95 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Holly Energy Partners L.P.. Holly Energy Partners L.P. was Resumed by Goldman to “Neutral” on Aug 26, 2016.

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 and loading rack facilities. The Company operates in West Texas New Mexico Utah Nevada Oklahoma Wyoming Kansas Arizona Idaho and Washington. Holly Logistic Services L.L.C. (HLS) is a subsidiary of HollyFrontier Corporation (HFC) which is the partner of the general partner of HEP and manages HEP. It owns and operates petroleum product and crude pipelines and terminal tankage and loading rack facilities that support HFC’s refining and marketing operations in the Mid-Continent Southwest and Rocky Mountain regions and Alon USA Inc.’s refinery in Big Spring Texas. Additionally the Company has interest in UNEV Pipeline LLC (UNEV) which owns a 427-mile 12-inch refined products pipeline running from Woods Cross Utah to Las Vegas Nevada product terminals near Cedar City Utah and Las Vegas Nevada and assets.

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