Holly Energy Partners, L.P. (NYSE:HEP) announced a dividend on Thursday, July 19th, Fidelity reports. Stockholders of record on Monday, July 30th will be paid a dividend of 0.66 per share by the pipeline company on Thursday, August 9th. The ex-dividend date is Friday, July 27th.
Holly Energy Partners has raised its dividend payment by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 14 years. Holly Energy Partners has a payout ratio of 150.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Holly Energy Partners to earn $1.85 per share next year, which means the company may not be able to cover its $2.62 annual dividend with an expected future payout ratio of 141.6%.
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Shares of HEP opened at $30.01 on Friday. Holly Energy Partners has a twelve month low of $26.08 and a twelve month high of $36.05. The stock has a market cap of $3.16 billion, a PE ratio of 17.05 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.38.
Holly Energy Partners (NYSE:HEP) last announced its quarterly earnings results on Tuesday, May 1st. The pipeline company reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Holly Energy Partners had a return on equity of 35.67% and a net margin of 45.15%. The firm had revenue of $128.88 million for the quarter, compared to analysts’ expectations of $122.74 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. sell-side analysts predict that Holly Energy Partners will post 1.74 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on HEP shares. Barclays decreased their price target on Holly Energy Partners from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Zacks Investment Research upgraded Holly Energy Partners from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. ValuEngine lowered Holly Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Holly Energy Partners in a report on Friday, April 6th. They set an “underweight” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.22.
Holly Energy Partners Company Profile
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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