Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Holly Energy Partners, L.P. (HEP)

Company Dividend Discount ModelIndustry: Oil & Gas MidstreamSector: Energy

Valuation Snapshot

Stable Growth$21.17 - $34.40$27.10
Multi-Stage$27.42 - $29.95$28.66
Blended Fair Value$27.88
Current Price$21.96
Upside26.96%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2022202120202019201820172016201520142013
DPS-6.24%-7.82%1.341.181.382.162.101.864.041.831.221.10
YoY Growth--13.76%-14.34%-36.15%3.11%12.96%-54.08%121.06%49.39%10.89%-63.65%
Dividend Yield--7.74%6.68%7.22%15.40%7.72%6.73%11.31%5.40%3.89%3.33%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)239.26
(-) Cash Dividends Paid (M)177.25
(=) Cash Retained (M)62.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)47.8529.9117.94
Cash Retained (M)62.0062.0062.00
(-) Cash Required (M)-47.85-29.91-17.94
(=) Excess Retained (M)14.1532.1044.06
(/) Shares Outstanding (M)126.44126.44126.44
(=) Excess Retained per Share0.110.250.35
LTM Dividend per Share1.401.401.40
(+) Excess Retained per Share0.110.250.35
(=) Adjusted Dividend1.511.661.75
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate1.80%2.80%3.80%
Fair Value$21.17$27.10$34.40
Upside / Downside-3.62%23.40%56.66%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)239.26245.95252.84259.92267.19274.67282.91
Payout Ratio74.08%77.27%80.45%83.63%86.82%90.00%92.50%
Projected Dividends (M)177.25190.04203.41217.38231.97247.20261.69

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate1.80%2.80%3.80%
Year 1 PV (M)172.53174.22175.92
Year 2 PV (M)167.65170.96174.30
Year 3 PV (M)162.65167.49172.42
Year 4 PV (M)157.57163.85170.32
Year 5 PV (M)152.44160.08168.02
PV of Terminal Value (M)2,654.202,787.152,925.38
Equity Value (M)3,467.033,623.753,786.36
Shares Outstanding (M)126.44126.44126.44
Fair Value$27.42$28.66$29.95
Upside / Downside24.87%30.51%36.37%

High-Yield Dividend Screener

« Prev Page 13 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PCR.WAPCC Rokita S.A.7.82%$5.0595.33%
TQR.BKTQR Public Company Limited7.82%$0.3990.56%
KGI.BKKGI Securities (Thailand) Public Company Limited7.81%$0.3162.80%
PRDA.JKPT Prodia Widyahusada Tbk7.81%$180.5285.06%
AIMIRT.BKAIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust7.80%$0.8581.01%
AKRA.JKPT AKR Corporindo Tbk7.80%$99.8882.20%
SPREME.BKSupreme Distribution Public Company Limited7.80%$0.1190.62%
AYV.PAAyvens7.79%$0.9171.87%
1378.HKChina Hongqiao Group Limited7.78%$2.6556.89%
NRG.PANRJ Group S.A.7.78%$0.6363.81%
D2O.AXDuxton Water Limited7.77%$0.1250.68%
TVO-R.BKThai Vegetable Oil Public Company Limited7.77%$1.7462.11%
C38U.SICapitaLand Integrated Commercial Trust7.76%$0.1874.73%
002839.SZJiangsu Zhangjiagang Rural Commercial Bank Co., Ltd7.75%$0.3544.09%
0710.HKBOE Varitronix Limited7.75%$0.4239.15%
0951.HKChaowei Power Holdings Limited7.75%$0.1120.52%
1681.HKConsun Pharmaceutical Group Limited7.75%$1.2055.92%
AXA.DEAXA S.A.7.75%$3.1752.74%
RND.AXRand Mining Limited7.75%$0.2057.47%
601881.SSChina Galaxy Securities Co., Ltd.7.74%$1.2298.30%
TA1.DETelekom Austria AG7.74%$0.7679.04%
0746.HKLee & Man Chemical Company Limited7.73%$0.4035.48%
NESN.SWNestlé S.A.7.73%$6.0972.83%
2633.HKJacobson Pharma Corporation Limited7.72%$0.1036.63%
000498.SZShandong Hi-Speed Road and Bridge Group Co., Ltd.7.71%$0.4748.64%
0016.HKSun Hung Kai Properties Limited7.71%$7.4556.97%
0QKE.LVontobel Holding AG7.70%$4.4661.99%
HAEK.DEHaemato AG7.70%$1.6385.37%
2688.HKENN Energy Holdings Limited7.68%$5.3950.36%
ASIMAR.BKAsian Marine Services Public Company Limited7.68%$0.1260.54%
SAMS.PASamse S.A.7.68%$10.2556.16%
SEC.AXSpheria Emerging Companies Limited7.68%$0.2215.84%
UVAN.BKUnivanich Palm Oil Public Company Limited7.68%$1.0063.09%
JCT.BKJack Chia Industries (Thailand) Public Company Limited7.67%$6.4483.85%
KFL.NZKingfish Limited7.67%$0.1038.05%
ALRIB.PARiber S.A.7.65%$0.2771.18%
DXI.AXDexus Industria REIT7.65%$0.2117.56%
NISP.JKPT Bank OCBC NISP Tbk7.65%$106.0049.91%
SCG.AXScentre Group7.65%$0.3291.06%
002572.SZSuofeiya Home Collection Co., Ltd.7.62%$1.0488.29%
035000.KSHS Ad Inc.7.62%$648.8381.78%
JMT-R.BKJMT Network Services Public Company Limited7.62%$0.6769.23%
SQU.DEVinci S.A.7.62%$9.2455.99%
0QP2.LZurich Insurance Group AG7.61%$32.4879.70%
BAMI.MIBanco BPM S.p.A.7.61%$1.0080.93%
600795.SSGD Power Development Co.,Ltd7.60%$0.3892.13%
BTI.AXBailador Technology Investments Limited7.60%$0.0934.83%
SMPC.BKSahamitr Pressure Container Public Company Limited7.60%$0.6757.18%
0O33.LOeneo S.A.7.59%$0.7076.88%
BOREO.HEBoreo Oyj7.59%$1.0882.86%