Delek Logistics Partners LP (DKL) Sees Large Volume Increase
Delek Logistics Partners LP (NYSE:DKL) saw an uptick in trading volume on Thursday . 77,772 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 74,209 shares.The stock last traded at $26.60 and had previously closed at $26.24.
A number of research firms have weighed in on DKL. Simmons restated a “buy” rating and issued a $38.00 price target on shares of Delek Logistics Partners in a report on Friday, April 1st. 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 research report on Tuesday, June 21st. Piper Jaffray Cos. started coverage on Delek Logistics Partners in a research report on Friday, April 1st. They issued an “overweight” rating on the stock. Zacks Investment Research raised Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Delek Logistics Partners in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.25.
The stock has a 50-day moving average of $26.21 and a 200-day moving average of $28.17. The firm has a market capitalization of $628.51 million and a P/E ratio of 10.32.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Thursday, May 5th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.04. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business earned $104.40 million during the quarter, compared to analysts’ expectations of $122.18 million. The firm’s revenue was down 27.3% on a year-over-year basis. Equities analysts expect that Delek Logistics Partners LP will post $2.26 EPS for the current year.
In other Delek Logistics Partners news, EVP Kent B. Thomas sold 2,500 shares of the firm’s stock in a transaction that occurred 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 owns 12,604 shares of the company’s stock, valued at approximately $415,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
An institutional investor recently raised its position in Delek Logistics Partners stock. BNP Paribas Arbitrage SA raised its position in shares of Delek Logistics Partners LP (NYSE:DKL) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,510 shares of the company’s stock after buying an additional 1,478 shares during the period. BNP Paribas Arbitrage SA owned 0.62% of Delek Logistics Partners worth $5,372,000 at the end of the most recent quarter.
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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