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HEP - The 11.0% Distribution Yield Of Holly Energy Partners Is Safe
Holly Energy Partners L.P.
HEP has plunged 43% this year due to the pandemic and thus it is now offering an 11.0% forward distribution yield.
Such an abnormally high yield usually signals that a distribution cut is just around the corner.
However, the yield of HEP is safe thanks to the resilient business model of the MLP.
In the second quarter, which was marked by unprecedented lockdowns, HEP posted just a 3% dip in its distributable cash flow and a distribution coverage ratio of 1.9.