Delek Logistics Partners (DKL) Downgraded by Zacks Investment Research

Delek Logistics Partners (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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. “

DKL has been the topic of a number of other reports. Barclays lowered shares of Delek Logistics Partners from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a report on Wednesday. ValuEngine upgraded shares of Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Delek Logistics Partners has a consensus rating of “Hold” and a consensus target price of $33.67.

Shares of Delek Logistics Partners (DKL) traded up $0.10 on Wednesday, hitting $32.50. 61,792 shares of the stock were exchanged, compared to its average volume of 45,109. Delek Logistics Partners has a fifty-two week low of $26.80 and a fifty-two week high of $36.05. The firm has a market cap of $791.75, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.25. The company has a debt-to-equity ratio of -15.58, a current ratio of 1.19 and a quick ratio of 0.92.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). Delek Logistics Partners had a net margin of 12.86% and a negative return on equity of 332.86%. equities research analysts expect that Delek Logistics Partners will post 2.13 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of Delek Logistics Partners in the 2nd quarter valued at $131,000. Creative Planning grew its position in shares of Delek Logistics Partners by 797.0% in the 2nd quarter. Creative Planning now owns 4,485 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 3,985 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Delek Logistics Partners in the 2nd quarter valued at $223,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Delek Logistics Partners by 2.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,433 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 206 shares during the last quarter. Finally, PEAK6 Investments L.P. purchased a new position in shares of Delek Logistics Partners in the 2nd quarter valued at $211,000. 25.09% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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