Delek Logistics Partners (NYSE:DKL) Rating Lowered to Hold at StockNews.com

Delek Logistics Partners (NYSE:DKL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other brokerages have also recently commented on DKL. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Friday, April 19th. They issued a “buy” rating and a $46.00 target price on the stock. Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Delek Logistics Partners Trading Down 0.9 %

NYSE:DKL traded down $0.36 during midday trading on Friday, reaching $39.72. The company had a trading volume of 122,058 shares, compared to its average volume of 75,437. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.70 and a beta of 2.07. Delek Logistics Partners has a 12-month low of $36.50 and a 12-month high of $58.81. The stock’s fifty day simple moving average is $40.46 and its 200-day simple moving average is $44.08.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, sell-side analysts expect that Delek Logistics Partners will post 3.48 EPS for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Delek Logistics Partners in the first quarter valued at $66,000. Spirit of America Management Corp NY purchased a new position in Delek Logistics Partners in the 4th quarter valued at about $86,000. Citigroup Inc. acquired a new stake in shares of Delek Logistics Partners during the 3rd quarter worth about $88,000. Fifth Third Bancorp acquired a new position in shares of Delek Logistics Partners in the third quarter valued at approximately $103,000. Finally, Nomura Holdings Inc. acquired a new position in Delek Logistics Partners in the 3rd quarter valued at $210,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.