Delek Logistics Partners (NYSE:DKL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “
A number of other equities research analysts have also recently issued reports on the company. ValuEngine cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo cut Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 1st. Finally, Barclays cut Delek Logistics Partners from an “equal weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Delek Logistics Partners has an average rating of “Hold” and an average target price of $33.67.
Shares of Delek Logistics Partners opened at $29.00 on Tuesday, MarketBeat.com reports. The company has a market cap of $707.81 million, a price-to-earnings ratio of 13.88, a P/E/G ratio of 3.27 and a beta of 1.13. The company has a debt-to-equity ratio of -5.65, a current ratio of 1.61 and a quick ratio of 1.26. Delek Logistics Partners has a 12-month low of $28.15 and a 12-month high of $28.40.
Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Monday, May 7th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $167.92 million during the quarter, compared to analysts’ expectations of $154.61 million. Delek Logistics Partners had a negative return on equity of 144.78% and a net margin of 12.98%. equities analysts predict that Delek Logistics Partners will post 2.9 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in shares of Delek Logistics Partners by 33.6% in the first quarter. Guggenheim Capital LLC now owns 16,298 shares of the oil and gas producer’s stock valued at $462,000 after acquiring an additional 4,098 shares during the period. Meitav Dash Investments Ltd. bought a new stake in shares of Delek Logistics Partners in the fourth quarter valued at approximately $591,000. Franklin Square Holdings L.P. boosted its position in shares of Delek Logistics Partners by 22.8% in the fourth quarter. Franklin Square Holdings L.P. now owns 23,600 shares of the oil and gas producer’s stock valued at $748,000 after acquiring an additional 4,380 shares during the period. Deutsche Bank AG boosted its position in shares of Delek Logistics Partners by 215.8% in the fourth quarter. Deutsche Bank AG now owns 36,881 shares of the oil and gas producer’s stock valued at $1,169,000 after acquiring an additional 25,201 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of Delek Logistics Partners by 3.8% in the first quarter. Global X Management Co. LLC now owns 262,789 shares of the oil and gas producer’s stock valued at $7,450,000 after acquiring an additional 9,684 shares during the period. 24.57% of the stock is owned by institutional investors.
About Delek Logistics Partners
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.
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