Delek Logistics Partners (NYSE:DKL) Stock Price Expected to Rise, Citigroup Analyst Says

Delek Logistics Partners (NYSE:DKL) had its price target raised by equities researchers at Citigroup from $52.00 to $56.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Citigroup‘s price target would indicate a potential upside of 3.33% from the company’s current price.

A number of other brokerages have also issued reports on DKL. UBS Group raised their target price on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Zacks Research downgraded shares of Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.40.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL traded up $0.20 during trading hours on Thursday, reaching $54.20. The stock had a trading volume of 5,385 shares, compared to its average volume of 104,761. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 18.88 and a beta of 0.43. The company has a current ratio of 0.85, a quick ratio of 0.91 and a debt-to-equity ratio of 15.37. Delek Logistics Partners has a fifty-two week low of $43.12 and a fifty-two week high of $61.50. The firm has a 50-day moving average of $55.50 and a 200-day moving average of $53.48.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Friday, November 6th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.12). Delek Logistics Partners had a return on equity of 1,108.40% and a net margin of 11.90%. The firm had revenue of $372.44 million for the quarter, compared to analysts’ expectations of $355.44 million. Equities research analysts predict that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in DKL. Focus Financial Network Inc. boosted its holdings in Delek Logistics Partners by 2.2% in the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock valued at $707,000 after purchasing an additional 300 shares in the last quarter. Arrow Investment Advisors LLC raised its stake in shares of Delek Logistics Partners by 8.9% during the 3rd quarter. Arrow Investment Advisors LLC now owns 4,624 shares of the oil and gas producer’s stock worth $246,000 after buying an additional 379 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Delek Logistics Partners by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 7,520 shares of the oil and gas producer’s stock worth $400,000 after buying an additional 406 shares in the last quarter. State of Wyoming purchased a new position in shares of Delek Logistics Partners during the 1st quarter worth approximately $67,000. Finally, Tidal Investments LLC lifted its holdings in shares of Delek Logistics Partners by 60.9% in the 2nd quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after buying an additional 2,786 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.