Insider Buying: Michael Jennings Buys 1,000 Shares of Holly Energy Partners, L.P. Stock (HEP)
Holly Energy Partners, L.P. (NYSE:HEP) CEO Michael Jennings acquired 1,000 shares of the company’s stock on the open market in a transaction dated Friday, June 20th. The shares were purchased at an average price of $33.55 per share, with a total value of $33,550.00. Following the transaction, the chief executive officer now directly owns 7,000 shares of the company’s stock, valued at approximately $234,850. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
Holly Energy Partners, L.P. (NYSE:HEP) opened at 34.98 on Wednesday. Holly Energy Partners, L.P. has a 52-week low of $29.55 and a 52-week high of $40.00. The stock has a 50-day moving average of $34.30 and a 200-day moving average of $32.99. The company has a market cap of $2.052 billion and a P/E ratio of 35.70.
Holly Energy Partners, L.P. (NYSE:HEP) last released its earnings data on Thursday, May 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $87.00 million for the quarter, compared to the consensus estimate of $77.52 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts expect that Holly Energy Partners, L.P. will post $1.24 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Holly Energy Partners, L.P. from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $36.20 price target on the stock. Analysts at Howard Weil raised their price target on shares of Holly Energy Partners, L.P. from $34.00 to $35.00 in a research note on Friday, May 2nd. They now have a “sector perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.80.
Holly Energy Partners, L.P. (NYSE:HEP) is engaged principally in the business of operating a system of petroleum product and crude oil pipelines, storage tanks, distribution terminals and loading rack facilities in west Texas, New Mexico, Utah, Arizona, Oklahoma, Idaho and Washington.
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