Zacks Investment Research Upgrades Delek Logistics Partners LP (DKL) to “Strong-Buy”
Zacks Investment Research upgraded shares of Delek Logistics Partners LP (NYSE:DKL) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. They currently have $31.00 price target on the 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. “
DKL has been the subject of a number of other research reports. Wells Fargo & Co. lowered Delek Logistics Partners from an outperform rating to a market perform rating in a research note on Monday, October 3rd. Goldman Sachs Group Inc. upgraded Delek Logistics Partners from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research note on Tuesday, June 21st. Simmons reiterated a hold rating and set a $31.00 price objective (down previously from $33.00) on shares of Delek Logistics Partners in a research note on Tuesday, June 21st. Finally, Barclays PLC reduced their price objective on Delek Logistics Partners from $32.00 to $30.00 and set an equal weight rating for the company in a research note on Thursday, August 11th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Delek Logistics Partners has a consensus rating of Hold and a consensus price target of $31.00.
Shares of Delek Logistics Partners (NYSE:DKL) opened at 26.45 on Tuesday. The stock has a market capitalization of $642.79 million, a P/E 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 has a 50 day moving average price of $27.54 and a 200-day moving average price of $27.91.
Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data 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, analysts predict that Delek Logistics Partners will post $2.37 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock worth $120,000 after buying an additional 3,985 shares during the period. PEAK6 Investments L.P. purchased a new stake in Delek Logistics Partners during the second quarter valued at about $211,000. HITE Hedge Asset Management LLC boosted its stake in Delek Logistics Partners by 142.9% in the second quarter. HITE Hedge Asset Management LLC now owns 36,683 shares of the company’s stock valued at $980,000 after buying an additional 21,579 shares during the last quarter. Homrich & Berg boosted its stake in Delek Logistics Partners by 5.3% in the second quarter. Homrich & Berg now owns 42,338 shares of the company’s stock valued at $1,131,000 after buying an additional 2,145 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Delek Logistics Partners during the first quarter valued at about $1,148,000.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Delek Logistics Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek Logistics Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.