Delek Logistics Partners LP (DKL) Cut to Hold at Zacks Investment Research
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. “
A number of other brokerages also recently weighed in on DKL. Barclays PLC reaffirmed an equal weight rating and issued a $32.00 target price on shares of Delek Logistics Partners in a report on Thursday, July 7th. Simmons reaffirmed 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. Wells Fargo & Co. downgraded Delek Logistics Partners from an outperform rating to a market perform rating in a report on Monday, October 3rd. Finally, Goldman Sachs Group Inc. raised Delek Logistics Partners from a neutral rating to a buy rating and set a $32.00 target price on the stock in a report on Tuesday, June 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $31.00.
Shares of Delek Logistics Partners (NYSE:DKL) opened at 26.45 on Wednesday. The firm has a market capitalization of $642.79 million, a PE ratio of 10.73 and a beta of 1.34. Delek Logistics Partners has a 52 week low of $21.84 and a 52 week high of $38.00. The company’s 50 day moving average price is $27.54 and its 200-day moving average price is $27.91.
Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.08. On average, equities research analysts expect that Delek Logistics Partners will post $2.37 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in DKL. TPH Asset Management LLC boosted its position in shares of Delek Logistics Partners by 144.9% in the first quarter. TPH Asset Management LLC now owns 324,230 shares of the company’s stock worth $9,522,000 after buying an additional 191,848 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Delek Logistics Partners by 17.9% in the second quarter. Global X Management Co. LLC now owns 220,344 shares of the company’s stock worth $5,885,000 after buying an additional 33,516 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Delek Logistics Partners during the second quarter worth approximately $4,317,000. Cbre Clarion Securities LLC boosted its position in shares of Delek Logistics Partners by 7.8% in the second quarter. Cbre Clarion Securities LLC now owns 135,915 shares of the company’s stock worth $3,630,000 after buying an additional 9,827 shares during the last quarter. Finally, Barclays PLC purchased a new position in shares of Delek Logistics Partners during the second quarter worth approximately $1,214,000.
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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