Holly Energy Partners, L.P. (HEP) Sees Large Volume Increase
Holly Energy Partners, L.P. (NYSE:HEP) shares saw an uptick in trading volume on Friday . 135,404 shares traded hands during mid-day trading, an increase of 41% from the previous session’s volume of 95,922 shares.The stock last traded at $33.30 and had previously closed at $33.73.
Several brokerages have weighed in on HEP. Zacks Investment Research cut shares of Holly Energy Partners, L.P. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 5th. Raymond James Financial Inc. lowered shares of Holly Energy Partners, L.P. from a “market perform” rating to an “underperform” rating in a report on Wednesday, April 27th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $35.00 target price on shares of Holly Energy Partners, L.P. in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $36.60.
The company has a market cap of $1.96 billion and a P/E ratio of 17.74. The stock’s 50 day moving average is $35.01 and its 200 day moving average is $32.39.
Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The business had revenue of $94.90 million for the quarter, compared to analysts’ expectations of $97.17 million. Holly Energy Partners, L.P.’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, equities research analysts anticipate that Holly Energy Partners, L.P. will post $1.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Monday, August 1st will be issued a dividend of $0.585 per share. This is an increase from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.58. This represents a $2.34 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Thursday, July 28th.
An institutional investor recently raised its position in Holly Energy Partners, L.P. stock. Morgan Stanley raised its stake in shares of Holly Energy Partners, L.P. (NYSE:HEP) by 31.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 388,131 shares of the company’s stock after buying an additional 92,260 shares during the period. Morgan Stanley owned approximately 0.66% of Holly Energy Partners, L.P. worth $12,086,000 at the end of the most recent reporting period.
Holly Energy Partners, L.P., (HEP) is engaged in the business of operating a system of petroleum product and crude pipelines, storage tanks, distribution terminals and loading rack facilities. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington.
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