Zacks Investment Research upgraded shares of Delek Logistics Partners, L.P. (NYSE:DKL) from a hold rating to a buy rating in a report released on Wednesday, May 24th. Zacks Investment Research currently has $35.00 price target on the oil and gas producer’s stock.
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. “
Separately, Scotiabank reiterated a hold rating and issued a $33.00 price objective on shares of Delek Logistics Partners, L.P. in a report on Thursday, March 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $32.20.
Shares of Delek Logistics Partners, L.P. (NYSE:DKL) traded up 3.30% during trading on Wednesday, hitting $32.90. The stock had a trading volume of 20,671 shares. Delek Logistics Partners, L.P. has a 52 week low of $21.30 and a 52 week high of $36.05. The company has a market capitalization of $800.39 million, a PE ratio of 16.73 and a beta of 1.29. The firm has a 50-day moving average price of $31.26 and a 200 day moving average price of $31.20.
Delek Logistics Partners, L.P. (NYSE:DKL) last released its quarterly earnings data on Monday, May 8th. The oil and gas producer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.07. Delek Logistics Partners, L.P. had a negative return on equity of 446.17% and a net margin of 13.08%. The business had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $128.42 million. During the same quarter last year, the business posted $0.54 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. Equities analysts anticipate that Delek Logistics Partners, L.P. will post $2.46 earnings per share for the current year.
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In other news, major shareholder Delek Us Holdings, Inc. bought 21,773 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was purchased at an average price of $29.67 per share, with a total value of $646,004.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 158,498 shares of company stock valued at $4,935,022 in the last three months.
A number of hedge funds and other institutional investors have recently bought and sold shares of DKL. Raymond James Financial Services Advisors Inc. raised its position in Delek Logistics Partners, L.P. by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,433 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 206 shares during the period. Parkside Financial Bank & Trust raised its position in Delek Logistics Partners, L.P. by 7.3% in the first quarter. Parkside Financial Bank & Trust now owns 9,385 shares of the oil and gas producer’s stock worth $313,000 after buying an additional 640 shares during the period. Jane Street Group LLC bought a new position in Delek Logistics Partners, L.P. during the first quarter worth $313,000. Cetera Advisors LLC bought a new position in Delek Logistics Partners, L.P. during the third quarter worth $470,000. Finally, GSA Capital Partners LLP raised its stake in Delek Logistics Partners, L.P. by 45.7% in the fourth quarter. GSA Capital Partners LLP now owns 16,600 shares of the oil and gas producer’s stock worth $474,000 after buying an additional 5,205 shares during the last quarter. 27.25% of the stock is owned by institutional investors.
About Delek Logistics Partners, L.P.
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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