Why Investors Are Missing Out on This 8.6% Yield [The Motley Fool]
Holly Energy Partners, L.P. (HEP)
Last holly energy partners, l.p. earnings: 2/19 06:30 am
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Source: The Motley Fool
This high-yield stock is in transition, but it looks like it's putting the pieces in place to keep paying investors well. Holly Energy Partners, LP ( NYSE:HEP ) had a big year in 2017, but not because of asset acquisitions or new construction efforts. It purchased parent HollyFrontier 's ( NYSE:HFC ) incentive distribution rights. This move creates an opportunity for a new stage of growth, but also indicates that the master limited partnership is going through a transition period. But at the same time, distribution coverage for its impressive 8.6% yield looks worrisome. Here's why investors shouldn't get too upset just yet. A lot of units Holly Energy is controlled by general partner HollyFrontier. Until 2017 this relationship included incentive distribution rights that increased along with the partnership's distribution, which has been increased every quarter for nearly 14 years. Early on, these rights are an incentive for a general partner to grow a partner
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