ValuEngine cut shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a report issued on Thursday.
Several other brokerages have also commented on DKL. Zacks Investment Research upgraded shares of Delek Logistics Partners from a hold rating to a buy rating and set a $38.00 price target on the stock in a research note on Tuesday, October 9th. Credit Suisse Group started coverage on shares of Delek Logistics Partners in a research note on Thursday, October 11th. They set an underperform rating and a $31.00 price target on the stock. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Delek Logistics Partners currently has a consensus rating of Sell and a consensus target price of $33.67.
Shares of DKL traded down $0.05 during mid-day trading on Thursday, hitting $30.92. 22,396 shares of the company’s stock were exchanged, compared to its average volume of 44,607. Delek Logistics Partners has a twelve month low of $26.50 and a twelve month high of $35.50. The firm has a market cap of $761.45 million, a price-to-earnings ratio of 14.79 and a beta of 1.18.
Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 7th. The oil and gas producer reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.01). Delek Logistics Partners had a negative return on equity of 103.52% and a net margin of 13.22%. The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $189.86 million. Research analysts anticipate that Delek Logistics Partners will post 2.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, November 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a yield of 10.22%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 147.37%.
A number of large investors have recently bought and sold shares of DKL. Guggenheim Capital LLC grew its stake in Delek Logistics Partners by 33.6% in the 1st quarter. Guggenheim Capital LLC now owns 16,298 shares of the oil and gas producer’s stock valued at $462,000 after buying an additional 4,098 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Delek Logistics Partners in the 2nd quarter valued at $843,000. First Republic Investment Management Inc. acquired a new position in Delek Logistics Partners in the 2nd quarter valued at $270,000. Biglari Capital CORP. acquired a new position in Delek Logistics Partners in the 2nd quarter valued at $2,876,000. Finally, California Public Employees Retirement System grew its stake in Delek Logistics Partners by 15.9% in the 2nd quarter. California Public Employees Retirement System now owns 15,485 shares of the oil and gas producer’s stock valued at $428,000 after buying an additional 2,122 shares during the last quarter. Institutional investors and hedge funds own 22.69% of the company’s stock.
Delek Logistics Partners Company Profile
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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