Delek Logistics Partners LP (DKL) Sees Unusually-High Trading Volume
Delek Logistics Partners LP (NYSE:DKL) saw unusually-strong 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.
Several analysts recently weighed in on DKL shares. Goldman Sachs Group Inc. upgraded 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. Piper Jaffray Cos. downgraded Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a research note on Monday, May 9th. Simmons restated a “buy” rating and issued a $38.00 price target on shares of Delek Logistics Partners in a research note on Friday, April 1st. Zacks Investment Research downgraded Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Friday, April 8th. Finally, Barclays PLC started coverage on Delek Logistics Partners in a research note on Wednesday, April 13th. They issued an “equal weight” rating and a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $34.25.
The firm has a market cap of $627.53 million and a price-to-earnings ratio of 10.30. The stock’s 50-day moving average is $26.22 and its 200-day moving average is $28.38.
Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.04. During the same quarter last year, the firm posted $0.56 earnings per share. The company had revenue of $104.40 million for the quarter, compared to the consensus estimate of $122.18 million. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. Equities analysts anticipate that Delek Logistics Partners LP will post $2.26 earnings per share for the current fiscal year.
In related news, EVP Kent B. Thomas sold 2,500 shares of Delek Logistics Partners stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $33.00, for a total transaction of $82,500.00. Following the transaction, the executive vice president now directly owns 12,604 shares of the company’s stock, valued at $415,932. The sale was disclosed in a filing with the SEC, which is accessible through this link.
A hedge fund recently raised its stake in Delek Logistics Partners stock. GSA Capital Partners LLP raised 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 firm owned 128,257 shares of the company’s stock after buying an additional 32,903 shares during the period. GSA Capital Partners LLP owned 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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