Holly Energy Partners L P Stock Price, News & Analysis

Holly Energy Partners, L.P. (NYSE: HEP) will announce its financial results for the quarter ending June 30, 2021, on August 3, 2021, before NYSE trading opens. A webcast to discuss these results is scheduled for the same day at 4:00 p.m. Eastern time. Investors can access the webcast via the provided link, and an audio archive will be available until August 17, 2021. Holly Energy Partners specializes in petroleum product and crude oil transportation, terminalling, storage, and throughput services across multiple states, including Texas and New Mexico.

Holly Energy Partners (HEP) reported a first quarter 2021 net income of $64.4 million ($0.61 per unit), significantly up from $24.9 million ($0.24 per unit) in Q1 2020. The results were boosted by special items totaling $13.6 million. Revenues for the quarter reached $127.2 million, a slight decline from the previous year, attributed to a 9% drop in pipeline volumes. Distributable cash flow increased by 3.5% to $73.2 million. Operating expenses rose to $80.4 million, primarily due to a goodwill impairment. The Partnership declared a distribution of $0.35 per unit on April 22, 2021.

The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q1 2021, payable on May 13, 2021, to unitholders of record as of May 3, 2021. The partnership will also announce its Q1 results on May 4, 2021, before NYSE trading. A webcast will be held on the same day at 4:00 p.m. ET. Holly Energy operates petroleum transportation and storage services across multiple states, and its distributions to foreign investors are subject to federal tax withholding.

Holly Energy Partners, L.P. (NYSE: HEP) will announce its financial results for the quarter ending March 31, 2021, on May 4, 2021, before NYSE trading opens. A webcast is scheduled for the same day at 4:00 p.m. Eastern time to discuss these results. The webcast will be accessible through a dedicated link and an audio archive will be available until May 18, 2021. Holly Energy Partners, based in Dallas, Texas, specializes in transportation, terminalling, storage, and throughput services for the petroleum industry, operating across multiple states.

On February 24, 2021, Holly Energy Partners, L.P. (NYSE: HEP) submitted its Annual Report on Form 10-K for the fiscal year ending December 31, 2020, to the SEC. This report is accessible on the Partnership's website under the 'Investors' and 'Financial Information' sections. Limited partners and bondholders can request a physical copy of the report, which includes audited financial statements, by contacting the Partnership's Investor Relations. Holly Energy Partners is based in Dallas, Texas, and offers transportation, storage, and throughput services for petroleum products across multiple states.

Holly Energy Partners, L.P. (HEP) reported fourth-quarter 2020 net income of $51.3 million ($0.49 per unit), up from $45.7 million in Q4 2019. Distributable cash flow rose by 8.5% to $70 million. Despite lower interest expenses and higher equity in earnings, HEP faced a revenue decline of $4.2 million, driven by an 11% drop in pipeline volumes. For 2020, total revenues fell 6.5% to $497.8 million, primarily due to an 18% reduction in pipeline volumes. The company announced a cash distribution of $0.35 on January 22, 2021.

The Board of Directors of Holly Energy Partners (NYSE:HEP) has announced a cash distribution of $0.35 per unit for Q4 2020, payable on February 12, 2021. For 2021, HEP plans to maintain this distribution, totaling $1.40 annually. The company aims to fund all capital expenditures and distributions from free cash flow and targets a distributable cash flow coverage of 1.3x or higher, with an objective to reduce leverage to 3.0-3.5x. Financial results for Q4 2020 will be announced on February 23, 2021.

Holly Energy Partners, L.P. (NYSE: HEP) will announce its financial results for the quarter ending December 31, 2020, on February 23, 2021, prior to NYSE trading. A webcast is scheduled for the same day at 4:00 p.m. Eastern time to discuss these results. The webcast can be accessed via a link, and an audio archive will be available until March 9, 2021. The partnership specializes in petroleum product and crude oil transportation, terminalling, storage, and throughput services across various states, including Texas and New Mexico.

Holly Energy Partners, L.P. (HEP) reported a third-quarter net income of $17.8 million ($0.17/unit), a decline from $82.3 million ($0.78/unit) in Q3 2019, impacted by special items totaling $29.6 million. Excluding these items, net income was stable at $47.4 million ($0.45/unit). Distributable cash flow rose 11.7% year-over-year to $76.9 million. Revenues decreased to $127.7 million, down $8.2 million, primarily due to a 13% drop in pipeline volumes affected by COVID-19. HEP declared a quarterly distribution of $0.35 per unit and plans to reduce leverage through excess cash utilization.