HITE Hedge Asset Management LLC raised its stake in shares of Delek Logistics Partners LP (NYSE:DKL) by 142.9% during the second quarter, Holdings Channel reports. The fund owned 36,683 shares of the company’s stock after buying an additional 21,579 shares during the period. HITE Hedge Asset Management LLC’s holdings in Delek Logistics Partners were worth $980,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. TPH Asset Management LLC increased its stake in Delek Logistics Partners by 144.9% in the first quarter. TPH Asset Management LLC now owns 324,230 shares of the company’s stock valued at $9,522,000 after buying an additional 191,848 shares during the last quarter. ING Groep NV acquired a new stake in Delek Logistics Partners during the first quarter valued at about $1,148,000. Finally, Creative Planning increased its stake in Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock valued at $120,000 after buying an additional 3,985 shares during the last quarter.
Delek Logistics Partners LP (NYSE:DKL) traded down 0.94% during midday trading on Friday, hitting $28.58. The stock had a trading volume of 38,466 shares. The firm has a 50 day moving average of $27.76 and a 200 day moving average of $28.03. The firm has a market cap of $694.55 million, a price-to-earnings ratio of 11.60 and a beta of 1.34. Delek Logistics Partners LP has a 52 week low of $21.84 and a 52 week high of $38.00.
Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Equities research analysts predict that Delek Logistics Partners LP will post $2.37 EPS for the current year.
DKL has been the subject of several research reports. Zacks Investment Research downgraded shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Goldman Sachs Group Inc. upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, June 21st. Simmons restated a “hold” rating and set a $31.00 price objective (down from $33.00) on shares of Delek Logistics Partners in a research note on Tuesday, June 21st. Finally, Barclays PLC restated an “equal weight” rating and set a $32.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, July 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.00.
About Delek Logistics Partners
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.
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