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

Zacks Investment Research downgraded shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a research report report published on Thursday, Zacks.com reports.

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. “

Delek Logistics Partners stock opened at $31.89 on Thursday. The business’s 50 day moving average price is $31.55. The company has a market cap of $794.22 million, a price-to-earnings ratio of 12.03, a PEG ratio of 5.84 and a beta of 1.02. Delek Logistics Partners has a 1-year low of $27.01 and a 1-year high of $35.50.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Monday, May 6th. The oil and gas producer reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). The firm had revenue of $152.48 million for the quarter, compared to the consensus estimate of $151.96 million. Delek Logistics Partners had a negative return on equity of 67.06% and a net margin of 14.00%. On average, analysts forecast that Delek Logistics Partners will post 2.73 EPS for the current year.

In other Delek Logistics Partners news, Director Francis C. D’andrea sold 888 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $30.64, for a total value of $27,208.32. Following the completion of the transaction, the director now owns 11,384 shares of the company’s stock, valued at approximately $348,805.76. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in Delek Logistics Partners by 2,214.8% in the 4th quarter. Barclays PLC now owns 2,824 shares of the oil and gas producer’s stock worth $83,000 after buying an additional 2,702 shares in the last quarter. Citigroup Inc. purchased a new position in Delek Logistics Partners in the 4th quarter worth approximately $87,000. First Republic Investment Management Inc. grew its stake in Delek Logistics Partners by 5.8% in the 1st quarter. First Republic Investment Management Inc. now owns 8,915 shares of the oil and gas producer’s stock worth $289,000 after buying an additional 487 shares in the last quarter. Arrow Investment Advisors LLC grew its stake in Delek Logistics Partners by 23.4% in the 1st quarter. Arrow Investment Advisors LLC now owns 16,948 shares of the oil and gas producer’s stock worth $550,000 after buying an additional 3,211 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Delek Logistics Partners by 27.5% in the 4th quarter. Bank of America Corp DE now owns 45,201 shares of the oil and gas producer’s stock worth $1,322,000 after buying an additional 9,743 shares in the last quarter. 21.56% of the stock is 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 in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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