Zacks Investment Research Lowers Delek Logistics Partners, L.P. (NYSE:DKL) to Sell

Delek Logistics Partners, L.P. (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, October 4th.

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. “

Several other equities research analysts also recently commented on DKL. Barclays PLC restated an “equal weight” rating and issued a $33.00 price target on shares of Delek Logistics Partners, L.P. in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Delek Logistics Partners, L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Scotiabank set a $33.00 price target on shares of Delek Logistics Partners, L.P. and gave the company a “hold” rating in a research report on Saturday, July 22nd. Finally, ValuEngine lowered shares of Delek Logistics Partners, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Shares of Delek Logistics Partners, L.P. (DKL) traded down 0.80% on Wednesday, reaching $31.05. The company had a trading volume of 700 shares. 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 is $30.43 and its 200 day moving average is $31.42. The firm has a market capitalization of $756.41 million, a PE ratio of 16.37 and a beta of 1.30.

Delek Logistics Partners, L.P. (NYSE:DKL) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.59 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.09). The business had revenue of $126.80 million for the quarter, compared to analyst estimates of $140.00 million. Delek Logistics Partners, L.P. had a net margin of 12.70% and a negative return on equity of 368.38%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. On average, equities research analysts expect that Delek Logistics Partners, L.P. will post $2.33 earnings per share for the current fiscal year.

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In other Delek Logistics Partners, L.P. news, CEO Ezra Uzi Yemin purchased 3,500 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were bought at an average price of $29.00 per share, for a total transaction of $101,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional investors have recently modified their holdings of the business. Franklin Square Holdings L.P. bought a new stake in Delek Logistics Partners, L.P. in the 1st quarter valued at $769,000. Renaissance Technologies LLC boosted its holdings in Delek Logistics Partners, L.P. by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 33,920 shares of the oil and gas producer’s stock valued at $1,130,000 after purchasing an additional 3,493 shares during the period. Global Endowment Management LP bought a new stake in Delek Logistics Partners, L.P. in the 1st quarter valued at $1,222,000. Taylor Wealth Management Partners boosted its holdings in Delek Logistics Partners, L.P. by 14.5% in the 2nd quarter. Taylor Wealth Management Partners now owns 32,340 shares of the oil and gas producer’s stock valued at $1,059,000 after purchasing an additional 4,090 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in Delek Logistics Partners, L.P. by 5.2% in the 2nd quarter. Global X Management Co. LLC now owns 246,965 shares of the oil and gas producer’s stock valued at $8,088,000 after purchasing an additional 12,272 shares during the period. 28.78% 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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