Looking for consistent income, or even dividend growth? This stock yields over 7%, with 1.13x distribution coverage over the past four quarters. In October, it bought a new asset that will be accretive to Q4 earnings. Revenue is up 10%, EPU is up 24%, EBITDA is up 20% and distributable cash flow is up 15% in the past four quarters. This article also details an income-enhancing trade for this stock that can double its yield.
Holly Energy Partners LP (NYSE:HEP) is a Delaware limited partnership formed in early 2004 by HollyFrontier and is headquartered in Dallas, Texas. HEP provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. The partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah. HEP's general partner is Holly Logistics Services, which is owned by HollyFrontier Corp. (NYSE:HFC).
Source: Seeking Alpha
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