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NEW YORK ( TheStreet) -- Holly Energy (NYSE: HEP) hit a new 52-week high Thursday as it is currently trading at $61.07, above its previous 52-week high of $61.05 with 182,129 shares traded as of 3:50 p.m. ET. Average volume has been 59,100 shares over the past 30 days. Holly Energy has a market cap of $1.2 billion and is part of the basic materials sector and energy industry. Shares are up 7% year to date as of the close of trading on Wednesday. Holly Energy Partners, L.P. operates a system of petroleum product and crude oil pipelines, storage tanks, distribution terminals, and loading rack facilities. The company has a P/E ratio of 23.2, above the average energy industry P/E ratio of 21.9 and above the S&P 500 P/E ratio of 17.7.