Zacks Research Downgrades Delek Logistics Partners (NYSE:DKL) to Hold

Delek Logistics Partners (NYSE:DKL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their price objective on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings cut Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and a consensus target price of $55.60.

Delek Logistics Partners Stock Performance

NYSE:DKL opened at $54.87 on Tuesday. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market capitalization of $3.14 billion, a P/E ratio of 19.12 and a beta of 0.44. The company has a 50 day moving average price of $56.15 and a 200 day moving average price of $53.16. Delek Logistics Partners has a fifty-two week low of $42.35 and a fifty-two week high of $61.50.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The firm had revenue of $384.76 million during the quarter, compared to analysts’ expectations of $293.64 million. Equities research analysts forecast that Delek Logistics Partners will post 3.94 EPS for the current year.

Insider Buying and Selling at Delek Logistics Partners

In related news, EVP Reuven Spiegel bought 1,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $50.00 per share, with a total value of $50,000.00. Following the purchase, the executive vice president directly owned 29,549 shares of the company’s stock, valued at $1,477,450. This trade represents a 3.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Ezra Yemin purchased 6,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the acquisition, the chairman owned 168,217 shares in the company, valued at $8,410,850. This trade represents a 3.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 15,000 shares of company stock valued at $750,000. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in DKL. State of Wyoming purchased a new stake in shares of Delek Logistics Partners during the first quarter worth approximately $67,000. Avior Wealth Management LLC purchased a new position in Delek Logistics Partners in the second quarter worth approximately $206,000. Motiv8 Investments LLC purchased a new position in Delek Logistics Partners in the fourth quarter worth approximately $192,000. HB Wealth Management LLC acquired a new position in Delek Logistics Partners during the 1st quarter worth approximately $216,000. Finally, Gateway Wealth Partners LLC acquired a new position in Delek Logistics Partners during the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.