UBS Group Upgrades Delek Logistics Partners (NYSE:DKL) to “Hold”

Delek Logistics Partners (NYSE:DKL) was upgraded by UBS Group to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms also recently commented on DKL. Raymond James Financial reiterated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock. Mizuho raised their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and a consensus price target of $55.40.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $54.90 on Thursday. The business’s 50 day simple moving average is $51.88 and its 200-day simple moving average is $51.19. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.65 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. Delek Logistics Partners has a 12 month low of $41.72 and a 12 month high of $56.83.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The firm had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $239.87 million. As a group, equities analysts forecast that Delek Logistics Partners will post 3.86 earnings per share for the current fiscal year.

Institutional Trading of Delek Logistics Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in Delek Logistics Partners during the 2nd quarter worth about $50,000. Jones Financial Companies Lllp lifted its holdings in Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares in the last quarter. State of Wyoming purchased a new position in Delek Logistics Partners in the 1st quarter valued at about $67,000. Osaic Holdings Inc. boosted its stake in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter worth about $206,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.