Delek Logistics Partners (NYSE:DKL) Stock Gets Downgrade from Zacks Research

Delek Logistics Partners (NYSE:DKL) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks reports.

Other research analysts have also recently issued reports about the stock. UBS Group raised their price objective on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Citigroup increased their price target on shares of Delek Logistics Partners from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.40.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $53.71 on Wednesday. Delek Logistics Partners has a 12-month low of $43.12 and a 12-month high of $61.50. The company has a current ratio of 0.85, a quick ratio of 0.91 and a debt-to-equity ratio of 15.37. The firm has a market cap of $3.07 billion, a PE ratio of 18.71 and a beta of 0.43. The company’s 50 day simple moving average is $55.47 and its 200-day simple moving average is $53.51.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Friday, November 6th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.12). The company had revenue of $372.44 million for the quarter, compared to analysts’ expectations of $355.44 million. Delek Logistics Partners had a return on equity of 1,108.40% and a net margin of 11.90%. As a group, equities analysts predict that Delek Logistics Partners will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 28.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer’s stock worth $299,831,000 after purchasing an additional 1,250,721 shares during the period. NEOS Investment Management LLC raised its holdings in Delek Logistics Partners by 56.0% in the second quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after buying an additional 62,267 shares during the period. Pinnacle Holdings LLC purchased a new position in Delek Logistics Partners in the second quarter valued at approximately $1,703,000. Gateway Wealth Partners LLC purchased a new position in Delek Logistics Partners in the first quarter valued at approximately $222,000. Finally, Commonwealth Equity Services LLC acquired a new position in Delek Logistics Partners during the third quarter valued at approximately $225,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.