Delek Logistics Partners (NYSE:DKL) Rating Increased to Hold at Zacks Research

Delek Logistics Partners (NYSE:DKL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on DKL. Truist Financial assumed coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective for the company. Mizuho lifted their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Citigroup reaffirmed a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus target price of $55.25.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $49.79 on Monday. The company’s 50-day moving average is $50.94 and its two-hundred day moving average is $50.23. Delek Logistics Partners has a 1-year low of $41.72 and a 1-year high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.58 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The firm had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. Analysts forecast that Delek Logistics Partners will post 3.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in Delek Logistics Partners during the 2nd quarter worth approximately $50,000. Jones Financial Companies Lllp boosted its position in Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after buying an additional 910 shares during the period. State of Wyoming purchased a new position in Delek Logistics Partners in the 1st quarter valued at approximately $67,000. Osaic Holdings Inc. grew its stake in shares of Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Delek Logistics Partners by 1,186.5% in the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after acquiring an additional 3,868 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

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.