The Delek Logistics Partners, L.P. (DKL) Downgraded by Zacks Investment Research

The Delek Logistics Partners, L.P. (DKL) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Delek Logistics Partners, L.P. (NYSE:DKL) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.

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. “

Separately, Wells Fargo & Co upgraded Delek Logistics Partners, L.P. from a market perform rating to an outperform rating in a report on Wednesday, November 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Delek Logistics Partners, L.P. presently has a consensus rating of Hold and a consensus target price of $32.75.

Delek Logistics Partners, L.P. (NYSE:DKL) traded up 0.32% during trading on Wednesday, reaching $31.30. 9,553 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $33.11 and a 200-day moving average of $28.50. The stock has a market cap of $761.47 million, a PE ratio of 15.07 and a beta of 1.40. Delek Logistics Partners, L.P. has a 12 month low of $21.30 and a 12 month high of $36.05.

Delek Logistics Partners, L.P. (NYSE:DKL) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.01. Delek Logistics Partners, L.P. had a negative return on equity of 554.90% and a net margin of 14.52%. The business earned $124.70 million during the quarter, compared to analysts’ expectations of $111.47 million. During the same period in the previous year, the business earned $0.55 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Delek Logistics Partners, L.P. will post $2.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, February 7th were issued a $0.68 dividend. This is an increase from Delek Logistics Partners, L.P.’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, February 3rd. This represents a $2.72 dividend on an annualized basis and a yield of 8.72%. Delek Logistics Partners, L.P.’s dividend payout ratio is 125.93%.

In other news, major shareholder Delek Us Holdings, Inc. acquired 18,000 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was acquired at an average price of $28.76 per share, for a total transaction of $517,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders acquired 136,241 shares of company stock valued at $3,918,616.

Institutional investors have recently bought and sold shares of the company. First Trust Advisors LP increased its position in Delek Logistics Partners, L.P. by 123.3% in the third quarter. First Trust Advisors LP now owns 361,010 shares of the company’s stock worth $10,318,000 after buying an additional 199,372 shares during the period. HITE Hedge Asset Management LLC increased its position in Delek Logistics Partners, L.P. by 485.4% in the third quarter. HITE Hedge Asset Management LLC now owns 214,741 shares of the company’s stock worth $6,137,000 after buying an additional 178,058 shares during the period. Wasatch Advisors Inc. increased its position in Delek Logistics Partners, L.P. by 63.4% in the third quarter. Wasatch Advisors Inc. now owns 133,356 shares of the company’s stock worth $3,811,000 after buying an additional 51,723 shares during the period. HighTower Advisors LLC purchased a new position in Delek Logistics Partners, L.P. during the third quarter worth about $934,000. Finally, Global X Management Co. LLC increased its position in Delek Logistics Partners, L.P. by 11.1% in the third quarter. Global X Management Co. LLC now owns 244,699 shares of the company’s stock worth $6,993,000 after buying an additional 24,355 shares during the period. Institutional investors and hedge funds own 30.13% of the company’s stock.

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.

Get a free copy of the Zacks research report on Delek Logistics Partners, L.P. (DKL)

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