Delek Logistics Partners LP (NYSE:DKL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $35.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.45% from the company’s current price.
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, Scotiabank reaffirmed a “hold” rating and issued a $33.00 price target on shares of Delek Logistics Partners in a research note on Thursday, March 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.20.
Delek Logistics Partners (NYSE:DKL) opened at 31.00 on Wednesday. Delek Logistics Partners has a 1-year low of $21.30 and a 1-year high of $36.05. The stock’s 50 day moving average price is $31.36 and its 200 day moving average price is $30.40. The stock has a market capitalization of $754.17 million, a PE ratio of 15.77 and a beta of 1.40.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Monday, May 8th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $129.50 million during the quarter, compared to analyst estimates of $128.42 million. Delek Logistics Partners had a net margin of 14.52% and a negative return on equity of 554.90%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Equities research analysts forecast that Delek Logistics Partners will post $2.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were issued a dividend of $0.69 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.76 dividend on an annualized basis and a yield of 8.95%. Delek Logistics Partners’s payout ratio is presently 125.93%.
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In other Delek Logistics Partners news, major shareholder Delek Us Holdings, Inc. bought 4,806 shares of the stock in a transaction on Friday, March 3rd. The shares were acquired at an average price of $30.84 per share, with a total value of $148,217.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 230,426 shares of company stock worth $7,108,823 in the last three months.
Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Delek Logistics Partners by 2.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,433 shares of the oil and gas producer’s stock worth $212,000 after buying an additional 206 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Delek Logistics Partners by 7.3% in the first quarter. Parkside Financial Bank & Trust now owns 9,385 shares of the oil and gas producer’s stock worth $313,000 after buying an additional 640 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Delek Logistics Partners during the first quarter worth about $313,000. Cetera Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $470,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Delek Logistics Partners by 45.7% in the fourth quarter. GSA Capital Partners LLP now owns 16,600 shares of the oil and gas producer’s stock worth $474,000 after buying an additional 5,205 shares during the last quarter. 30.13% of the stock is currently owned by institutional investors and hedge funds.
Delek Logistics Partners Company Profile
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.
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