Delek Logistics Partners LP (DKL) Receives $32.50 Consensus Target Price from Brokerages

Delek Logistics Partners LP (NYSE:DKL) has been given an average rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.50.

A number of analysts have recently commented on DKL shares. Zacks Investment Research cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Wells Fargo cut Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 1st. Barclays cut Delek Logistics Partners from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective for the company. in a research report on Wednesday, January 17th. Finally, ValuEngine cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd.

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DKL stock traded up $1.35 during trading on Monday, hitting $28.35. 51,202 shares of the company traded hands, compared to its average volume of 41,513. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of -14.46. The stock has a market cap of $705.32, a P/E ratio of 13.56, a P/E/G ratio of 3.29 and a beta of 1.11. Delek Logistics Partners has a 1 year low of $26.60 and a 1 year high of $35.54.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Monday, February 26th. The oil and gas producer reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.09). The company had revenue of $151.21 million for the quarter, compared to analysts’ expectations of $137.53 million. Delek Logistics Partners had a net margin of 12.90% and a negative return on equity of 292.19%. research analysts predict that Delek Logistics Partners will post 2.88 earnings per share for the current fiscal year.

In other Delek Logistics Partners news, CEO Ezra Uzi Yemin acquired 7,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $29.94 per share, for a total transaction of $209,580.00. Following the completion of the transaction, the chief executive officer now directly owns 228,070 shares of the company’s stock, valued at $6,828,415.80. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Several large investors have recently modified their holdings of DKL. Cohen & Steers Inc. boosted its stake in shares of Delek Logistics Partners by 37.0% in the third quarter. Cohen & Steers Inc. now owns 107,837 shares of the oil and gas producer’s stock worth $3,370,000 after acquiring an additional 29,112 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Delek Logistics Partners by 215.8% in the fourth quarter. Deutsche Bank AG now owns 36,881 shares of the oil and gas producer’s stock worth $1,169,000 after acquiring an additional 25,201 shares during the last quarter. Meitav Dash Investments Ltd. acquired a new stake in shares of Delek Logistics Partners in the fourth quarter worth approximately $591,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Delek Logistics Partners in the third quarter worth approximately $558,000. Finally, Franklin Square Holdings L.P. boosted its stake in shares of Delek Logistics Partners by 22.8% in the fourth quarter. Franklin Square Holdings L.P. now owns 23,600 shares of the oil and gas producer’s stock worth $748,000 after acquiring an additional 4,380 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

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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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