Delek Logistics Partners (NYSE:DKL) Downgraded by Zacks Research to Strong Sell

Delek Logistics Partners (NYSE:DKL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other research firms have also recently weighed in on DKL. UBS Group boosted their price objective on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Citigroup increased their price objective on Delek Logistics Partners from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings lowered Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.40.

Delek Logistics Partners Trading Down 0.5%

Shares of NYSE DKL opened at $53.71 on Wednesday. Delek Logistics Partners has a 1-year low of $43.12 and a 1-year high of $61.50. The company has a market cap of $3.07 billion, a PE ratio of 18.81 and a beta of 0.43. The company has a current ratio of 0.85, a quick ratio of 0.91 and a debt-to-equity ratio of 15.37. The company has a 50-day moving average of $55.47 and a two-hundred day moving average of $53.51.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Friday, November 6th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.12). Delek Logistics Partners had a return on equity of 1,108.40% and a net margin of 11.90%. The company had revenue of $372.44 million for the quarter, compared to analyst estimates of $355.44 million. As a group, equities analysts expect that Delek Logistics Partners will post 3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently modified their holdings of DKL. HighTower Advisors LLC increased its stake in Delek Logistics Partners by 5.7% during the 3rd quarter. HighTower Advisors LLC now owns 7,520 shares of the oil and gas producer’s stock worth $400,000 after purchasing an additional 406 shares in the last quarter. Alps Advisors Inc. raised its holdings in Delek Logistics Partners by 28.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer’s stock worth $299,831,000 after buying an additional 1,250,721 shares during the period. Arrow Investment Advisors LLC raised its holdings in Delek Logistics Partners by 8.9% during the 3rd quarter. Arrow Investment Advisors LLC now owns 4,624 shares of the oil and gas producer’s stock worth $246,000 after buying an additional 379 shares during the period. Commonwealth Equity Services LLC bought a new position in Delek Logistics Partners in the third quarter valued at approximately $225,000. Finally, Adams Asset Advisors LLC lifted its stake in Delek Logistics Partners by 5.2% in the third quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock valued at $3,936,000 after buying an additional 3,675 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.