Holly Energy Partners, L.P. (HEP) Sees Unusually-High Trading Volume
Holly Energy Partners, L.P. (NYSE:HEP) shares saw unusually-high trading volume on Friday . Approximately 135,404 shares changed 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.
HEP has been the topic of several research analyst reports. Zacks Investment Research raised Holly Energy Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, April 27th. Raymond James Financial Inc. downgraded Holly Energy Partners, L.P. from a “market perform” rating to an “underperform” rating in a research report on Wednesday, April 27th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of Holly Energy Partners, L.P. in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Holly Energy Partners, L.P. currently has an average rating of “Hold” and an average target price of $36.60.
The stock has a market cap of $1.96 billion and a price-to-earnings ratio of 17.74. The firm has a 50 day moving average price of $34.94 and a 200-day moving average price of $32.45.
Holly Energy Partners, L.P. (NYSE:HEP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $94.90 million for the quarter, compared to the consensus estimate of $97.17 million. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. On average, analysts anticipate that Holly Energy Partners, L.P. will post $1.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were given a dividend of $0.585 per share. The ex-dividend date was Thursday, July 28th. 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%.
A hedge fund recently raised its stake in Holly Energy Partners, L.P. stock. Morgan Stanley raised its stake in Holly Energy Partners, L.P. (NYSE:HEP) by 31.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 388,131 shares of the company’s stock after buying an additional 92,260 shares during the period. Morgan Stanley owned about 0.66% of Holly Energy Partners, L.P. worth $12,086,000 as of its most recent filing with the SEC.
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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