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

Delek Logistics Partners (NYSE:DKL) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Mizuho upped their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Citigroup reaffirmed a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Weiss Ratings cut Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Finally, Truist Financial began coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.25.

Delek Logistics Partners Stock Up 0.5%

Shares of NYSE:DKL opened at $49.79 on Monday. The firm has a 50 day simple moving average of $50.94 and a 200-day simple moving average of $50.23. Delek Logistics Partners has a twelve month low of $41.72 and a twelve month high of $55.89. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The company has a market capitalization of $2.65 billion, a PE ratio of 15.76, a P/E/G ratio of 0.58 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The company had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $239.87 million. On average, equities analysts predict that Delek Logistics Partners will post 3.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Delek Logistics Partners by 24.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after purchasing an additional 298,867 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Delek Logistics Partners by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after buying an additional 99,500 shares in the last quarter. HRT Financial LP boosted its stake in shares of Delek Logistics Partners by 278.3% in the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after buying an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Delek Logistics Partners by 30.8% during the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after acquiring an additional 48,284 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 L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.