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

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

A number of other equities analysts also recently issued reports on the company. Truist Financial began coverage on Delek Logistics Partners in a research report on Friday, April 19th. They set a “buy” rating and a $46.00 price objective for the company. Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Delek Logistics Partners Trading Down 0.9 %

NYSE:DKL traded down $0.38 during mid-day trading on Friday, hitting $39.70. 127,407 shares of the company’s stock were exchanged, compared to its average volume of 92,483. Delek Logistics Partners has a fifty-two week low of $36.50 and a fifty-two week high of $58.81. The firm has a market capitalization of $1.73 billion, a P/E ratio of 13.69 and a beta of 2.07. The company has a 50 day simple moving average of $40.46 and a 200-day simple moving average of $44.09.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data 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. The company had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. As a group, analysts expect that Delek Logistics Partners will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners during the 1st quarter worth approximately $66,000. Spirit of America Management Corp NY acquired a new stake in Delek Logistics Partners in the fourth quarter worth $86,000. Citigroup Inc. acquired a new stake in Delek Logistics Partners in the third quarter worth $88,000. Fifth Third Bancorp bought a new stake in Delek Logistics Partners in the third quarter valued at $103,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Delek Logistics Partners during the third quarter valued at about $210,000. 11.75% of the stock is currently owned by institutional investors.

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.