StockNews.com Downgrades Delek Logistics Partners (NYSE:DKL) to Hold

Delek Logistics Partners (NYSE:DKL) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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

Delek Logistics Partners Stock Performance

Shares of NYSE DKL traded down $0.36 during mid-day 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 stock has a fifty day moving average of $40.46 and a two-hundred day moving average of $44.08. The company 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.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The company had revenue of $254.15 million for the quarter, compared to analyst estimates of $272.51 million. Sell-side analysts forecast that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Delek Logistics Partners during the 1st quarter worth approximately $66,000. Spirit of America Management Corp NY acquired a new position in Delek Logistics Partners during the fourth quarter worth $86,000. Citigroup Inc. bought a new stake in Delek Logistics Partners during the third quarter worth $88,000. Fifth Third Bancorp bought a new position in shares of Delek Logistics Partners in the 3rd quarter valued at about $103,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Delek Logistics Partners during the 3rd quarter worth approximately $210,000. Institutional investors own 11.75% of the company’s stock.

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.