UBS Group Raises Delek Logistics Partners (NYSE:DKL) Price Target to $57.00

Delek Logistics Partners (NYSE:DKL) had its price target upped by equities research analysts at UBS Group from $55.00 to $57.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price indicates a potential upside of 0.60% from the stock’s previous close.

DKL has been the topic of several other research reports. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $55.60.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL opened at $56.66 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.90 and a beta of 0.44. The stock’s fifty day simple moving average is $56.18 and its 200 day simple moving average is $53.13. Delek Logistics Partners has a 52-week low of $42.35 and a 52-week high of $61.50.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The company had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. As a group, sell-side analysts forecast that Delek Logistics Partners will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Ezra Yemin bought 6,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $50.00 per share, with a total value of $300,000.00. Following the purchase, the chairman directly owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. This represents a 3.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Wright acquired 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, with a total value of $75,000.00. Following the completion of the acquisition, the executive vice president owned 7,994 shares of the company’s stock, valued at $399,700. This represents a 23.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 15,000 shares of company stock worth $750,000. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in Delek Logistics Partners by 60.9% in the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after acquiring an additional 2,786 shares during the last quarter. NEOS Investment Management LLC raised its holdings in shares of Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after purchasing an additional 62,267 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Delek Logistics Partners in the 2nd quarter valued at $1,703,000. Focus Financial Network Inc. boosted its holdings in Delek Logistics Partners by 2.2% in the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after purchasing an additional 300 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new position in Delek Logistics Partners during the second quarter worth $206,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.