Delek Logistics Partners LP (DKL) Stock Rating Lowered by Zacks Investment Research
Delek Logistics Partners LP (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
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 have also recently commented on DKL. Barclays PLC reaffirmed an “equal weight” rating and set a $32.00 price target on shares of Delek Logistics Partners in a research report on Thursday, July 7th. 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. Wells Fargo & Co. lowered Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, October 3rd. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.00.
Delek Logistics Partners (NYSE:DKL) opened at 25.58 on Tuesday. 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 $27.40 and its 200-day moving average price is $27.81. The company has a market capitalization of $621.65 million, a price-to-earnings ratio of 10.38 and a beta of 1.34.
Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. Equities analysts forecast that Delek Logistics Partners will post $2.37 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in DKL. Creative Planning raised its position in shares of Delek Logistics Partners by 80.8% in the third quarter. Creative Planning now owns 8,110 shares of the company’s stock valued at $232,000 after buying an additional 3,625 shares in the last quarter. Barclays PLC acquired a new position in shares of Delek Logistics Partners during the second quarter valued at $1,214,000. Cbre Clarion Securities LLC raised 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 valued at $3,630,000 after buying an additional 9,827 shares in the last quarter. PEAK6 Investments L.P. acquired a new position in shares of Delek Logistics Partners during the second quarter valued at $211,000. Finally, Homrich & Berg raised its position in shares of 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 in the last quarter.
Delek Logistics Partners Company Profile
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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