Delek Logistics Partners (NYSE:DKL) Lowered to “Hold” Rating by Zacks Research

Delek Logistics Partners (NYSE:DKL) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other research analysts also recently commented on the company. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 18th. UBS Group boosted their target price on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.60.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $54.87 on Tuesday. The stock has a market capitalization of $3.14 billion, a PE ratio of 19.12 and a beta of 0.44. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The business has a fifty day moving average price of $56.15 and a two-hundred day moving average price of $53.16. Delek Logistics Partners has a fifty-two week low of $42.35 and a fifty-two week high of $61.50.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. As a group, equities analysts predict that Delek Logistics Partners will post 3.94 earnings per share for the current fiscal year.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, EVP Mark Hobbs purchased 4,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $50.00 per share, with a total value of $200,000.00. Following the acquisition, the executive vice president owned 24,125 shares of the company’s stock, valued at approximately $1,206,250. This represents a 19.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Ezra Yemin acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the chairman owned 168,217 shares in the company, valued at $8,410,850. The trade was a 3.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 15,000 shares of company stock worth $750,000 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after purchasing an additional 165,741 shares during the last quarter. NEOS Investment Management LLC grew its holdings in Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock worth $8,935,000 after acquiring an additional 62,267 shares during the last quarter. Infrastructure Capital Advisors LLC grew its stake in shares of Delek Logistics Partners by 2.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after purchasing an additional 3,596 shares during the last quarter. Castellan Group increased its stake in shares of Delek Logistics Partners by 7.6% in the first quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock valued at $4,536,000 after buying an additional 6,430 shares during the period. Finally, Sharpepoint LLC increased its stake in shares of Delek Logistics Partners by 4.2% in the fourth quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after buying an additional 1,575 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.