Delek Logistics Partners (NYSE:DKL) Now Covered by Truist Financial

Equities researchers at Truist Financial assumed coverage on shares of Delek Logistics Partners (NYSE:DKL) in a note issued to investors on Tuesday. The firm set a “hold” rating and a $57.00 price target on the oil and gas producer’s stock. Truist Financial’s price objective suggests a potential upside of 6.58% from the stock’s current price.

Several other research firms also recently issued reports on DKL. Citigroup reaffirmed a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Zacks Research cut shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Delek Logistics Partners in a report on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $52.25.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $53.48 on Tuesday. The business has a 50 day moving average price of $51.91 and a 200 day moving average price of $47.50. The company has a market capitalization of $2.86 billion, a P/E ratio of 16.26, a PEG ratio of 0.49 and a beta of 0.51. Delek Logistics Partners has a 1-year low of $34.59 and a 1-year high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.38). The firm had revenue of $255.77 million for the quarter, compared to analysts’ expectations of $283.64 million. Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%. Sell-side analysts expect that Delek Logistics Partners will post 3.01 EPS for the current fiscal year.

Institutional Trading of Delek Logistics Partners

A number of large investors have recently made changes to their positions in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Delek Logistics Partners by 24.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after purchasing an additional 298,867 shares in the last quarter. Alps Advisors Inc. raised its stake in Delek Logistics Partners by 3.8% in 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. JPMorgan Chase & Co. lifted its holdings in Delek Logistics Partners by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after purchasing an additional 99,500 shares in the last quarter. HRT Financial LP lifted its holdings in Delek Logistics Partners by 278.3% in the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after purchasing an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after purchasing an additional 48,284 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

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.