Delek Logistics Partners (DKL) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Delek Logistics Partners (NYSE:DKL) from a sell rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “

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Several other equities research analysts also recently issued reports on the company. ValuEngine downgraded Delek Logistics Partners from a buy rating to a hold rating in a report on Friday, February 2nd. Wells Fargo downgraded Delek Logistics Partners from an outperform rating to a market perform rating in a report on Thursday, March 1st. Finally, Barclays downgraded Delek Logistics Partners from an equal weight rating to an underweight rating and set a $32.00 price target for the company. in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Delek Logistics Partners currently has an average rating of Hold and an average price target of $33.67.

NYSE DKL traded down $0.51 on Tuesday, reaching $28.69. The company had a trading volume of 5,306 shares, compared to its average volume of 36,549. The company has a market capitalization of $705.32, a PE ratio of 13.95, a P/E/G ratio of 3.29 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of -14.46. Delek Logistics Partners has a 52 week low of $26.60 and a 52 week high of $35.54.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Monday, February 26th. The oil and gas producer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.09). Delek Logistics Partners had a net margin of 12.90% and a negative return on equity of 292.19%. The company had revenue of $151.21 million during the quarter, compared to the consensus estimate of $137.53 million. sell-side analysts predict that Delek Logistics Partners will post 2.88 earnings per share for the current fiscal year.

In other news, CEO Ezra Uzi Yemin acquired 7,000 shares of Delek Logistics Partners stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $29.94 per share, with a total value of $209,580.00. Following the completion of the transaction, the chief executive officer now directly owns 228,070 shares of the company’s stock, valued at $6,828,415.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge funds have recently bought and sold shares of the company. Institutional & Family Asset Management LLC acquired a new position in shares of Delek Logistics Partners during the third quarter worth about $558,000. Meitav Dash Investments Ltd. acquired a new position in Delek Logistics Partners during the fourth quarter valued at approximately $591,000. Franklin Square Holdings L.P. boosted its position in Delek Logistics Partners by 22.8% during the fourth quarter. Franklin Square Holdings L.P. now owns 23,600 shares of the oil and gas producer’s stock valued at $748,000 after purchasing an additional 4,380 shares during the last quarter. GSA Capital Partners LLP boosted its position in Delek Logistics Partners by 14.2% during the third quarter. GSA Capital Partners LLP now owns 31,719 shares of the oil and gas producer’s stock valued at $991,000 after purchasing an additional 3,954 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Delek Logistics Partners by 215.8% during the fourth quarter. Deutsche Bank AG now owns 36,881 shares of the oil and gas producer’s stock valued at $1,169,000 after purchasing an additional 25,201 shares during the last quarter. 24.62% of the stock is owned by institutional investors.

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Delek Logistics Partners Company Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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