Delek Logistics Partners, L.P. (DKL) Stock Rating Lowered by Zacks Investment Research
Delek Logistics Partners, L.P. (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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 have also issued reports on the company. ValuEngine lowered Delek Logistics Partners, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub lowered Delek Logistics Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Barclays PLC reiterated an “equal weight” rating and set a $34.00 target price (down previously from $35.00) on shares of Delek Logistics Partners, L.P. in a report on Friday, August 4th. Finally, Scotiabank set a $33.00 target price on Delek Logistics Partners, L.P. and gave the stock a “hold” rating in a report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.50.
Delek Logistics Partners, L.P. (NYSE:DKL) traded down 1.45% on Wednesday, hitting $30.60. The stock had a trading volume of 10,711 shares. The stock has a 50-day moving average of $30.12 and a 200-day moving average of $31.41. The company has a market cap of $745.45 million, a PE ratio of 16.13 and a beta of 1.30. Delek Logistics Partners, L.P. has a one year low of $21.30 and a one year high of $36.05.
Delek Logistics Partners, L.P. (NYSE:DKL) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.09). Delek Logistics Partners, L.P. had a negative return on equity of 368.38% and a net margin of 12.70%. The company had revenue of $126.80 million for the quarter, compared to the consensus estimate of $140.00 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue was up 13.3% on a year-over-year basis. Equities analysts expect that Delek Logistics Partners, L.P. will post $2.33 earnings per share for the current fiscal year.
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In other Delek Logistics Partners, L.P. news, CEO Ezra Uzi Yemin acquired 7,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were purchased at an average price of $29.70 per share, for a total transaction of $207,900.00. Following the completion of the purchase, the chief executive officer now directly owns 219,418 shares of the company’s stock, valued at $6,516,714.60. The transaction was disclosed in a document filed with the SEC, which is available through this link.
A number of large investors have recently added to or reduced their stakes in DKL. Gotham Asset Management LLC bought a new stake in Delek Logistics Partners, L.P. in the second quarter valued at approximately $18,687,000. Morgan Stanley raised its stake in Delek Logistics Partners, L.P. by 56.2% in the first quarter. Morgan Stanley now owns 218,785 shares of the oil and gas producer’s stock valued at $7,285,000 after buying an additional 78,749 shares during the period. Global Endowment Management LP bought a new stake in Delek Logistics Partners, L.P. in the first quarter valued at approximately $1,222,000. Franklin Square Holdings L.P. bought a new stake in Delek Logistics Partners, L.P. in the first quarter valued at approximately $769,000. Finally, Arrow Investment Advisors LLC bought a new stake in Delek Logistics Partners, L.P. in the second quarter valued at approximately $714,000. Hedge funds and other institutional investors own 28.78% of the company’s stock.
Delek Logistics Partners, L.P. 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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