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.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce their financial results for Q3 2022 on November 7, 2022, prior to NYSE trading. A joint webcast will take place on the same day at 8:30 a.m. ET to discuss these results, with an audio archive available until November 21, 2022. HF Sinclair operates refineries across several states and markets high-value fuels, while HEP provides vital transportation and storage services for the petroleum sector.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will disclose their financial results for the quarter ending September 30, 2022, on November 7, 2022, prior to NYSE trading. A joint webcast is scheduled for the same day at 8:30 a.m. ET to review these results. HF Sinclair operates refineries across several states and markets high-value light products while HEP provides transportation and storage services for the petroleum industry. This event is crucial for investors seeking insights into their financial performance.
HF Sinclair Corporation (NYSE: DINO) has appointed Atanas H. Atanasov as Executive Vice President and Chief Financial Officer, effective September 30, 2022. Atanasov brings over 25 years of experience, having previously served as CFO at Lummus Technology and Kraton Corporation. In addition, Michael C. Jennings is now President of Holly Logistic Services, the general partner of Holly Energy Partners, L.P. (NYSE: HEP). The changes follow the mutual separation from Richard L. Voliva III, former CFO of HF Sinclair.
These appointments aim to strengthen the leadership team in the energy sector.
Holly Energy Partners, L.P. (HEP) reported a net income of $56.8 million for Q2 2022, translating to $0.45 per unit. This represents an increase from $55.7 million in Q2 2021, which included a one-time gain of $5.3 million. The rise in income is attributed to the acquisition of Sinclair Transportation, though offset by increased operating costs and interest expenses. Revenues rose to $135.8 million, primarily due to Sinclair assets, despite declines from certain product pipelines. HEP declared a quarterly distribution of $0.35 per unit.
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has announced a cash distribution of
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) are set to announce their financial results for the quarter ending June 30, 2022, on August 8, 2022, prior to market opening. A joint webcast conference will take place at 8:30 a.m. Eastern time to discuss these results. HF Sinclair is an independent energy company with operations in multiple states, focusing on high-value light products including gasoline and renewable diesel. HEP provides transportation and storage services to the petroleum industry.
Holly Energy Partners, L.P. (NYSE: HEP) and HF Sinclair Corporation (NYSE: DINO) will announce their financial results for the quarter ending June 30, 2022, on August 8, 2022, before NYSE trading begins. A joint webcast conference is scheduled for the same day at 8:30 a.m. Eastern time to discuss these results. The webcast can be accessed through a specified link until August 22, 2022. HEP provides transportation, terminaling, and storage services to the petroleum industry, while HF Sinclair produces and markets various light products.
Holly Energy Partners, L.P. (HEP) reported a first quarter 2022 net income of $49.6 million, down from $64.4 million in Q1 2021. This translates to $0.45 per unit, a decline from $0.61 per unit a year prior. Distributable cash flow fell by 12% to $64.5 million. The company declared a quarterly distribution of $0.35 per unit. HEP successfully closed the acquisition of Sinclair Transportation for $670.4 million, expected to boost future earnings due to newly contracted long-term minimum volume commitments. Revenues declined by $7 million year-over-year, totaling $120.2 million.
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has announced a cash distribution of $0.35 per unit for Q1 2022, payable on May 13, 2022, to unitholders of record by May 2, 2022. The financial results will be disclosed on May 9, 2022, before the NYSE opens, accompanied by a webcast at 8:30 a.m. ET. HEP provides vital transportation and storage services for the petroleum industry across multiple states and operates under HF Sinclair Corporation. The company emphasizes the potential challenges from market uncertainties and ongoing regulations.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce their financial results for the quarter ending March 31, 2022, on May 9, 2022, before NYSE trading begins. A joint webcast conference is scheduled for the same day at 8:30 a.m. Eastern Time to discuss these results. HF Sinclair, based in Dallas, Texas, is engaged in the production and marketing of gasoline, diesel fuel, and renewable diesel, while HEP focuses on petroleum product transportation and storage services.
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