Holly Energy Partners, L.P. (HEP) Sees Strong Trading Volume
Holly Energy Partners, L.P. (NYSE:HEP) shares saw unusually-strong trading volume on Monday . Approximately 97,925 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 112,260 shares.The stock last traded at $31.79 and had previously closed at $32.27.
A number of equities research analysts have recently weighed in on HEP shares. Zacks Investment Research upgraded shares of Holly Energy Partners, L.P. from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, April 27th. 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 restated an “equal weight” rating and issued a $35.00 price objective 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 issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $36.60.
The firm has a market cap of $1.89 billion and a P/E ratio of 17.08. The stock has a 50-day moving average of $34.72 and a 200 day moving average of $32.72.
Holly Energy Partners, L.P. (NYSE:HEP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. During the same quarter in the prior year, the firm earned $0.34 earnings per share. 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 quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts anticipate that Holly Energy Partners, L.P. will post $1.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were paid a dividend of $0.585 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $2.34 annualized dividend and a yield of 7.31%. This is a boost from Holly Energy Partners, L.P.’s previous quarterly dividend of $0.58.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.
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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