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Holly Energy Partners, L.P. - HEP STOCK NEWS

Welcome to our dedicated page for Holly Energy Partners, L.P. news (Ticker: HEP), a resource for investors and traders seeking the latest updates and insights on Holly Energy Partners, L.P. stock.

Holly Energy Partners, L.P. (HEP) is a prominent player in the energy sector, primarily owning and operating a comprehensive network of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units. These assets are crucial in supporting the refining and marketing operations of HollyFrontier Corporation across a vast geographical area that includes West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.

HEP operates through two main segments: Pipelines and Terminals, and Refinery Processing Units. The Pipelines and Terminals segment includes refined product pipelines that transport various grades of gasoline, distillates such as high- and low-sulfur diesel, jet fuels, and liquefied petroleum gases. Additionally, the segment also encompasses intermediate product pipelines transporting feedstocks and crude oils, as well as oil trunk lines and gathering pipelines delivering crude oil.

As part of its extensive operations, HEP manages 26 main pipelines and crude gathering networks, 10 refined product terminals, a crude terminal, and 31,800 track feet of related infrastructure. This extensive network ensures efficient and reliable transportation and storage solutions for its customers.

Recently, the company has focused on expanding its infrastructure to enhance capacity and efficiency. Current projects aim at modernizing and upgrading existing facilities to meet the growing demand for energy products and to comply with stringent environmental regulations. Financially, HEP maintains a robust balance sheet, reflecting steady revenue streams from long-term contracts and strategic partnerships.

HEP's significant role in the energy supply chain, coupled with its strategic asset base, positions it as a vital entity in the energy market. The company's ongoing efforts to optimize operations and expand its capabilities are likely to drive future growth and shareholder value.

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Holly Energy Partners declares cash distribution of $0.35 per common unit for Q3 2023
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HF Sinclair Corporation and Holly Energy Partners, L.P. to announce Q3 2023 results on November 2, 2023
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Holly Energy Partners and HF Sinclair Corporation will announce their Q3 2023 results on November 2, 2023. A joint webcast conference will be held to discuss financial results.
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HF Sinclair Corporation (NYSE: DINO) has authorized a $1 billion share repurchase program, replacing all existing authorizations. The prior program had $5 million remaining. Repurchases may be made in the open market or through privately negotiated transactions. The timing and amount of repurchases will depend on various factors. The CEO stated that this program reflects the company's commitment to returning excess free cash flow to shareholders.
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HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) have entered into a definitive merger agreement for HF Sinclair to acquire all outstanding common units of HEP not owned by HF Sinclair or its affiliates. The consideration for the merger will be a combination of HF Sinclair common stock at a fixed exchange ratio of 0.315 and $4.00 in cash per each publicly held HEP common unit. The transaction is expected to close in the fourth quarter of 2023.
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Holly Energy Partners, L.P. (HEP) reported net income of $50.2 million ($0.40 per unit) for Q2 2023, compared to $56.8 million ($0.45 per unit) in Q2 2022. Distributable cash flow was $73.3 million, a decrease of 6.6% YoY. HEP declared a quarterly cash distribution of $0.35 per unit. Revenues for Q2 2023 were $139.8 million, an increase of $4.0 million YoY.
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FAQ

What is the market cap of Holly Energy Partners, L.P. (HEP)?

The market cap of Holly Energy Partners, L.P. (HEP) is approximately 2.6B.

What does Holly Energy Partners, L.P. do?

Holly Energy Partners, L.P. owns and operates petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units.

Which areas does Holly Energy Partners, L.P. serve?

The company serves West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.

What are the main business segments of Holly Energy Partners, L.P.?

The main business segments are Pipelines and Terminals, and Refinery Processing Units.

What types of products do Holly Energy Partners' pipelines transport?

Their pipelines transport conventional and reformulated gasolines, low-octane gasolines for blending, high- and low-sulfur diesel, jet fuels, liquefied petroleum gases, and intermediate feedstocks.

How many main pipelines does Holly Energy Partners, L.P. operate?

The company operates 26 main pipelines.

What recent projects is Holly Energy Partners, L.P. involved in?

The company is focused on expanding its infrastructure and upgrading existing facilities to enhance capacity and efficiency.

Who are the main customers of Holly Energy Partners, L.P.?

Holly Energy Partners primarily supports the refining and marketing operations of HollyFrontier Corporation.

What is the financial condition of Holly Energy Partners, L.P.?

HEP maintains a robust balance sheet with steady revenue streams from long-term contracts and strategic partnerships.

How does Holly Energy Partners, L.P. contribute to the energy supply chain?

By owning and operating a comprehensive network of pipelines and storage facilities, HEP ensures the efficient and reliable transportation and storage of energy products.

What are Holly Energy Partners, L.P.'s future growth prospects?

Ongoing efforts to optimize operations and expand capabilities are expected to drive future growth and enhance shareholder value.

Holly Energy Partners, L.P.

NYSE:HEP

HEP Rankings

HEP Stock Data

2.59B
66.50M
63.99%
26.36%
1.3%
Oil & Gas Midstream
Energy
Link
United States
Dallas