Delek Logistics Partners LP (DKL) Lowered to “Strong Sell” at Zacks Investment Research
Delek Logistics Partners LP (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “
Other equities analysts also recently issued reports about the stock. Goldman Sachs Group Inc. upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, June 21st. Barclays PLC dropped their target price on shares of Delek Logistics Partners from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 11th. Simmons restated a “hold” rating and issued a $31.00 target price (down from $33.00) on shares of Delek Logistics Partners in a research note on Tuesday, June 21st. Finally, Wells Fargo & Co. downgraded shares of Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $31.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/delek-logistics-partners-lp-dkl-lowered-to-strong-sell-at-zacks-investment-research.html
Shares of Delek Logistics Partners (NYSE:DKL) traded down 1.05% during midday trading on Tuesday, hitting $26.31. 28,836 shares of the company traded hands. Delek Logistics Partners has a 52 week low of $21.84 and a 52 week high of $38.00. The stock has a market capitalization of $639.39 million, a P/E ratio of 10.68 and a beta of 1.34. The company has a 50-day moving average price of $27.46 and a 200-day moving average price of $27.83.
Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. Analysts anticipate that Delek Logistics Partners will post $2.37 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in DKL. Creative Planning boosted its stake in shares of Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock valued at $120,000 after buying an additional 3,985 shares during the last quarter. PEAK6 Investments L.P. purchased a new stake in Delek Logistics Partners during the second quarter worth approximately $211,000. HITE Hedge Asset Management LLC boosted its stake in Delek Logistics Partners by 142.9% in the second quarter. HITE Hedge Asset Management LLC now owns 36,683 shares of the company’s stock worth $980,000 after buying an additional 21,579 shares during the last quarter. Homrich & Berg boosted its stake in Delek Logistics Partners by 5.3% in the second quarter. Homrich & Berg now owns 42,338 shares of the company’s stock worth $1,131,000 after buying an additional 2,145 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Delek Logistics Partners during the first quarter worth approximately $1,148,000.
About Delek Logistics Partners
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Delek Logistics Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek Logistics Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.