Delek Logistics Partners LP (DKL) Stock Rating Lowered by 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 report released 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. “
Several other analysts also recently commented on DKL. Goldman Sachs Group Inc. upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, June 21st. Simmons reaffirmed a “hold” rating and issued a $31.00 price target (down previously from $33.00) on shares of Delek Logistics Partners in a research report on Tuesday, June 21st. Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of Delek Logistics Partners in a research report on Thursday, July 7th. Finally, Wells Fargo & Co. cut shares of Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $31.00.
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Shares of Delek Logistics Partners (NYSE:DKL) traded down 1.05% during trading on Tuesday, reaching $26.31. The company’s stock had a trading volume of 28,836 shares. Delek Logistics Partners has a 12 month low of $21.84 and a 12 month high of $38.00. The stock’s 50 day moving average price is $27.46 and its 200-day moving average price is $27.83. The firm has a market cap of $639.39 million, a PE ratio of 10.68 and a beta of 1.34.
Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. Equities analysts predict that Delek Logistics Partners will post $2.37 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Creative Planning boosted its stake in Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock worth $120,000 after buying an additional 3,985 shares during the period. PEAK6 Investments L.P. bought a new stake in Delek Logistics Partners during the second quarter worth approximately $211,000. ING Groep NV bought a new stake in Delek Logistics Partners during the first quarter worth approximately $1,148,000. 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 period. Finally, 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 period.
Delek Logistics Partners Company Profile
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.
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