Truist Financial Initiates Coverage on Delek Logistics Partners (NYSE:DKL)

Research analysts at Truist Financial assumed coverage on shares of Delek Logistics Partners (NYSE:DKL) in a report issued on Tuesday. The firm set a “hold” rating and a $57.00 price target on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 6.58% from the stock’s current price.

A number of other brokerages also recently commented on DKL. Zacks Research downgraded shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Citigroup reaffirmed a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial reissued an “outperform” rating and set a $55.00 price target on shares of Delek Logistics Partners in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Delek Logistics Partners has an average rating of “Hold” and an average target price of $52.25.

Delek Logistics Partners Trading Up 1.4%

NYSE:DKL opened at $53.48 on Tuesday. Delek Logistics Partners has a 12-month low of $34.59 and a 12-month high of $55.89. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77. The stock’s 50 day simple moving average is $51.91 and its 200-day simple moving average is $47.50. The firm has a market cap of $2.86 billion, a P/E ratio of 16.26, a PEG ratio of 0.49 and a beta of 0.51.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The company had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. Equities analysts anticipate that Delek Logistics Partners will post 3.01 EPS for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

Several institutional investors have recently made changes to their positions in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Delek Logistics Partners by 24.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after purchasing an additional 298,867 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after buying an additional 165,741 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Delek Logistics Partners by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after buying an additional 99,500 shares in the last quarter. HRT Financial LP grew its position in Delek Logistics Partners by 278.3% during the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after buying an additional 54,959 shares during the period. Finally, Raymond James Financial Inc. grew its position in Delek Logistics Partners by 30.8% during the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after buying an additional 48,284 shares during the period. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

Delek Logistics Partners Company Profile

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.