Holly Energy Partners: This 6% Yielder Offers Stability And Growth
By Bret Jensen:It appears the market is in for another rocky week after elections in Greece and France brought in anti-austerity results. I think one area that should continue to hold up well is the high yielding energy transport sector. One of stocks that looks enticing here is Holly Energy Partners (HEP), which recently reported earnings and yields north of 6%.Key takeaways from HEP's recent earnings report:
- Distributable Cash Flow was up 76% Y/Y to $36.6mm.
- Overall pipeline volumes were up 33% Y/Y and earnings move up to 60 cents per unit, compared to 53 cents a unit in the same quarter of 2011.
- EBITDA was up 43% Y/Y.
- It announced its 30th consecutive distribution increase, bumping the payout by 5% to 89.5 cents a unit.
4 reasons Holly Energy Partners is a solid buy for income investors at just over $57 a share:
- The stock yields 6.2% and has doubled
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