Holly Energy Partners L.P. (HEP) Releases Earnings Results, Beats Expectations By $0.07 EPS

Holly Energy Partners L.P. (HEP) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.45. The company posted revenue of $102.00 million in the period, compared to analysts expectations of $97.02 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Holly Energy Partners L.P.. Holly Energy Partners L.P. was Downgraded by Raymond James to ” Underperform” on Apr 27, 2016. Holly Energy Partners L.P. was Upgraded by BofA/Merrill to ” Buy” on Feb 17, 2016.

Holly Energy Partners L.P. opened for trading at $34 and hit $34.46 on the upside on Monday, eventually ending the session at $34.46, with a gain of 0.70% or 0.24 points. The heightened volatility saw the trading volume jump to 1,19,851 shares. Company has a market cap of $2,021 M.

In a different news, on Mar 2, 2016, Michael Jennings (CEO) purchased 1,948 shares at $29.25 per share price. According to the SEC, on Oct 1, 2015, Kenneth Norwood (VP and Controller) purchased 1,000 shares at $27.44 per share price. On Jun 22, 2015, Mark T. Cunningham (Sr Vice President, Operations) sold 5,000 shares at $36.03 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Holly Logistic Services L.L.C. (HLS) is a subsidiary of HollyFrontier Corporation (HFC) which is the partner of the general partner of HEP and manages HEP. It owns and operates petroleum product and crude pipelines and terminal tankage and loading rack facilities that support HFC’s refining and marketing operations in the Mid-Continent Southwest and Rocky Mountain regions and Alon USA Inc.’s refinery in Big Spring Texas. Additionally the Company has interest in UNEV Pipeline LLC (UNEV) which owns a 427-mile 12-inch refined products pipeline running from Woods Cross Utah to Las Vegas Nevada product terminals near Cedar City Utah and Las Vegas Nevada and assets.

Holly Energy Partners L.P.

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