Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Holly Energy Partners, L.P. (HEP)

Company Dividend Discount ModelIndustry: Oil & Gas MidstreamSector: Energy

Valuation Snapshot

Stable Growth$21.11 - $34.29$27.02
Multi-Stage$27.34 - $29.86$28.57
Blended Fair Value$27.80
Current Price$21.96
Upside26.58%
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 Rate9.10%9.10%9.10%
Growth Rate1.80%2.80%3.80%
Fair Value$21.11$27.02$34.29
Upside / Downside-3.86%23.05%56.13%

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 Rate9.10%9.10%9.10%
Growth Rate1.80%2.80%3.80%
Year 1 PV (M)172.50174.20175.89
Year 2 PV (M)167.59170.90174.24
Year 3 PV (M)162.57167.40172.34
Year 4 PV (M)157.46163.74170.21
Year 5 PV (M)152.32159.94167.88
PV of Terminal Value (M)2,644.192,776.642,914.34
Equity Value (M)3,456.623,612.823,774.89
Shares Outstanding (M)126.44126.44126.44
Fair Value$27.34$28.57$29.86
Upside / Downside24.49%30.12%35.95%

High-Yield Dividend Screener

« Prev Page 26 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ODFLOld Dominion Freight Line, Inc.0.69%$1.1022.00%
RRBIRed River Bancshares, Inc.0.69%$0.487.90%
SSDSimpson Manufacturing Co., Inc.0.69%$1.1413.76%
WCCWESCO International, Inc.0.69%$1.7513.38%
ALGAlamo Group Inc.0.68%$1.1511.96%
CBKCommercial Bancgroup, Inc. Common Stock0.68%$0.166.13%
IRMDIRadimed Corporation0.68%$0.6539.59%
UNFUniFirst Corporation0.68%$1.3216.37%
WTSWatts Water Technologies, Inc.0.68%$1.9019.65%
0HF3.LCencora0.67%$2.2528.12%
AITApplied Industrial Technologies, Inc.0.67%$1.7516.64%
CLMBClimb Global Solutions, Inc.0.67%$0.6814.50%
ASTHAstrana Health, Inc.0.66%$0.1786.52%
AVGOBroadcom Inc.0.66%$2.2848.18%
ENSEnerSys0.66%$0.9911.20%
HLIOHelios Technologies, Inc.0.66%$0.3635.50%
ICFIICF International, Inc.0.66%$0.5610.52%
VMCVulcan Materials Company0.66%$1.9322.82%
AAMEAtlantic American Corporation0.65%$0.027.99%
AMATApplied Materials, Inc.0.65%$1.7319.78%
CRMSalesforce, Inc.0.65%$1.6421.86%
GHCGraham Holdings Company0.65%$7.064.22%
LFACLF Capital Acquisition Corp. II0.65%$0.0724.33%
BSYBentley Systems, Incorporated0.64%$0.2530.41%
EHCEncompass Health Corporation0.64%$0.6812.77%
LADLithia Motors, Inc.0.64%$2.136.25%
PRBMParabellum Acquisition Corp.0.64%$0.065.11%
VRSNVeriSign, Inc.0.64%$1.5417.77%
AWIArmstrong World Industries, Inc.0.63%$1.2417.71%
ESQEsquire Financial Holdings, Inc.0.63%$0.6411.29%
SGISomnigroup International Inc0.63%$0.5637.60%
ULSUL Solutions Inc.0.63%$0.5130.38%
VMIValmont Industries, Inc.0.63%$2.5821.97%
ARCBArcBest Corporation0.62%$0.4811.39%
VVisa Inc.0.62%$2.1323.10%
LSXMAThe Liberty SiriusXM Group0.61%$0.141.73%
0J1R.LHCA Healthcare, Inc.0.60%$2.8110.70%
MPWRMonolithic Power Systems, Inc.0.60%$5.6614.34%
RXNZurn Water Solutions Corporation0.60%$0.3924.10%
0I47.LCostco Wholesale Corporation0.59%$5.0527.04%
DJCODaily Journal Corporation0.59%$2.954.20%
DRSLeonardo DRS, Inc.0.59%$0.2020.75%
FCNCAFirst Citizens BancShares, Inc.0.59%$12.697.01%
AMEAMETEK, Inc.0.58%$1.2019.00%
KLACKLA Corporation0.57%$7.2622.67%
SXIStandex International Corporation0.57%$1.2729.15%
RDVTRed Violet, Inc.0.56%$0.2937.32%
0IRE.LFortive Corporation0.55%$0.3016.72%
AIMCAltra Industrial Motion Corp.0.55%$0.3417.56%
BWXTBWX Technologies, Inc.0.55%$1.0029.87%