Delek Logistics Partners LP (DKL) Sees Unusually-High Trading Volume
Delek Logistics Partners LP (NYSE:DKL) saw unusually-high trading volume on Friday . Approximately 139,381 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 86,165 shares.The stock last traded at $25.66 and had previously closed at $25.83.
DKL has been the subject of a number of research analyst reports. Barclays PLC initiated coverage on Delek Logistics Partners in a report on Wednesday, April 13th. They issued an “equal weight” rating and a $36.00 target price for the company. Zacks Investment Research lowered Delek Logistics Partners from a “hold” rating to a “sell” rating in a report on Friday, April 8th. Simmons restated a “hold” rating and issued a $31.00 target price (down previously from $33.00) on shares of Delek Logistics Partners in a report on Tuesday, June 21st. Piper Jaffray Cos. downgraded shares of Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a research note on Monday, May 9th. Finally, Goldman Sachs Group Inc. raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.25.
The company has a 50-day moving average of $26.22 and a 200-day moving average of $28.38. The firm has a market cap of $627.53 million and a PE ratio of 10.30.
Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $104.40 million for the quarter, compared to the consensus estimate of $122.18 million. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. On average, analysts anticipate that Delek Logistics Partners LP will post $2.26 EPS for the current fiscal year.
In related news, EVP Kent B. Thomas sold 2,500 shares of the business’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $33.00, for a total value of $82,500.00. Following the sale, the executive vice president now directly owns 12,604 shares of the company’s stock, valued at approximately $415,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently raised its stake in Delek Logistics Partners stock. GSA Capital Partners LLP increased its stake in shares of Delek Logistics Partners LP (NYSE:DKL) by 34.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 128,257 shares of the company’s stock after buying an additional 32,903 shares during the period. GSA Capital Partners LLP owned about 0.53% of Delek Logistics Partners worth $4,577,000 as of its most recent filing with the SEC.
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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