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

Delek Logistics Partners (NYSE:DKL) was upgraded by investment analysts at 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 recently weighed in on DKL. Mizuho raised their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Weiss Ratings cut shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock. Finally, Citigroup reaffirmed a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Delek Logistics Partners has an average rating of “Hold” and a consensus price target of $55.25.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $49.79 on Monday. 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 company has a market cap of $2.65 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.47. The stock’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.

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

Institutional Investors Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in DKL. GSA Capital Partners LLP acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at $1,054,000. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 99,500 shares during the last quarter. PFG Investments LLC raised its stake in Delek Logistics Partners by 50.9% during the 4th quarter. PFG Investments LLC now owns 33,650 shares of the oil and gas producer’s stock worth $1,501,000 after acquiring an additional 11,350 shares in the last quarter. Alps Advisors Inc. raised its stake in Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after acquiring an additional 165,741 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Delek Logistics Partners by 91.1% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 10,782 shares of the oil and gas producer’s stock worth $537,000 after acquiring an additional 5,141 shares in the last quarter. Hedge funds and other institutional investors 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.