Pinnacle Holdings buys $2,923,942 stake in Holly Energy Partners L.P. (HEP)

Holly Energy Partners L.P. (HEP) : Pinnacle Holdings scooped up 927 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 Aug 9, 2016. The investment management firm now holds a total of 84,118 shares of Holly Energy Partners L.P. which is valued at $2,923,942.Holly Energy Partners L.P. makes up approximately 1.45% of Pinnacle Holdings’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services added HEP to its portfolio by purchasing 312 company shares during the most recent quarter which is valued at $10,845.Glenmede Trust Co Na boosted its stake in HEP in the latest quarter, The investment management firm added 27,148 additional shares and now holds a total of 69,857 shares of Holly Energy Partners L.P. which is valued at $2,382,822. Holly Energy Partners L.P. makes up approx 0.01% of Glenmede Trust Co Na’s portfolio.First Trust Advisors Lp boosted its stake in HEP in the latest quarter, The investment management firm added 48,925 additional shares and now holds a total of 205,155 shares of Holly Energy Partners L.P. which is valued at $6,997,837. Holly Energy Partners L.P. makes up approx 0.02% of First Trust Advisors Lp’s portfolio.

Holly Energy Partners L.P. closed down -0.35 points or -1.05% at $32.98 with 1,22,738 shares getting traded on Wednesday. Post opening the session at $33.35, the shares hit an intraday low of $32.8836 and an intraday high of $33.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Holly Energy Partners L.P. reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.43. The company had revenue of $94.90 million for the quarter, compared to analysts expectations of $96.61 million. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

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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