Delek Logistics Partners LP (DKL) Shares Down 5.3%
Shares of Delek Logistics Partners LP (NYSE:DKL) fell 5.3% during mid-day trading on Thursday . The stock traded as low as $26.21 and last traded at $26.28, with a volume of 50,895 shares traded. The stock had previously closed at $27.74.
Several research firms have recently issued reports on DKL. Barclays PLC began coverage on Delek Logistics Partners in a report on Wednesday, April 13th. They set an “equal weight” rating and a $36.00 target price on the stock. Piper Jaffray Cos. began coverage on Delek Logistics Partners in a report on Friday, April 1st. They set an “overweight” rating on the stock. Simmons reissued a “buy” rating and set a $38.00 target price on shares of Delek Logistics Partners in a report on Friday, April 1st. Zacks Investment Research lowered Delek Logistics Partners from a “hold” rating to a “sell” rating in a report on Friday, April 8th. Finally, Goldman Sachs Group Inc. raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.25.
The firm’s 50 day moving average is $26.22 and its 200-day moving average is $28.49. The firm has a market cap of $634.57 million and a price-to-earnings ratio of 10.42.
Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.04. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business earned $104.40 million during the quarter, compared to analyst estimates of $122.18 million. The company’s revenue was down 27.3% on a year-over-year basis. On average, equities research analysts predict that Delek Logistics Partners LP will post $2.26 EPS for the current fiscal year.
In other Delek Logistics Partners news, EVP Kent B. Thomas sold 2,500 shares of the business’s stock in a transaction on Friday, April 29th. The stock was 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 in the company, valued at $415,932. The sale was disclosed in a filing with the SEC, which is accessible through this link.
An institutional investor recently raised its position in Delek Logistics Partners stock. GSA Capital Partners LLP boosted its stake in shares of Delek Logistics Partners LP (NYSE:DKL) by 34.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.
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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