Delek Logistics Partners, L.P. (NYSE:DKL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, May 11th. The firm currently has a $35.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s target price suggests a potential upside of 6.38% from the stock’s current price.
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. “
Separately, Scotiabank reissued a “hold” rating and issued a $33.00 price target on shares of Delek Logistics Partners, L.P. in a research note on Thursday, March 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Delek Logistics Partners, L.P. currently has an average rating of “Buy” and a consensus target price of $32.20.
Delek Logistics Partners, L.P. (DKL) opened at 32.90 on Thursday. Delek Logistics Partners, L.P. has a 12 month low of $21.30 and a 12 month high of $36.05. The firm’s 50 day moving average price is $31.26 and its 200 day moving average price is $31.20. The stock has a market cap of $800.39 million, a price-to-earnings ratio of 16.73 and a beta of 1.29.
Delek Logistics Partners, L.P. (NYSE:DKL) last posted its quarterly earnings results on Monday, May 8th. The oil and gas producer reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.07. Delek Logistics Partners, L.P. had a net margin of 13.08% and a negative return on equity of 446.17%. The firm had revenue of $129.50 million during the quarter, compared to analysts’ expectations of $128.42 million. During the same period last year, the company earned $0.54 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. On average, equities research analysts predict that Delek Logistics Partners, L.P. will post $2.46 EPS for the current fiscal year.
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In related news, major shareholder Delek Us Holdings, Inc. acquired 3,296 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was purchased at an average price of $30.07 per share, with a total value of $99,110.72. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 158,498 shares of company stock valued at $4,935,022 in the last ninety days.
Institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in Delek Logistics Partners, L.P. by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,433 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 206 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Delek Logistics Partners, L.P. by 7.3% in the first quarter. Parkside Financial Bank & Trust now owns 9,385 shares of the oil and gas producer’s stock worth $313,000 after buying an additional 640 shares during the last quarter. Jane Street Group LLC bought a new position in Delek Logistics Partners, L.P. during the first quarter worth $313,000. Cetera Advisors LLC bought a new position in Delek Logistics Partners, L.P. during the third quarter worth $470,000. Finally, GSA Capital Partners LLP boosted its position in Delek Logistics Partners, L.P. by 45.7% in the fourth quarter. GSA Capital Partners LLP now owns 16,600 shares of the oil and gas producer’s stock worth $474,000 after buying an additional 5,205 shares during the last quarter. 27.25% of the stock is owned by hedge funds and other institutional investors.
About Delek Logistics Partners, L.P.
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.
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