Delek Logistics Partners (NYSE:DKL) Price Target Raised to $57.00 at UBS Group

Key Points

• UBS Group raised Delek Logistics Partners’ price target to $57 from $55 while maintaining a “neutral” rating, implying roughly 0.6% upside. The broader analyst consensus remains “Hold,” with a $55.60 target.
• Delek Logistics reported quarterly EPS of $0.54, missing the $0.93 consensus estimate, despite revenue of $384.76 million exceeding expectations. The partnership has forecast full-year EPS of approximately $3.94.
• Company insiders purchased 15,000 shares worth $750,000 in the last quarter, while institutional investors and hedge funds own 11.75% of the stock.

Delek Logistics Partners (NYSE:DKL - Get Free Report) had its target price lifted by investment analysts at UBS Group from $55.00 to $57.00 in a report released on Monday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price target would suggest a potential upside of 0.60% from the stock's current price.

A number of other research firms have also issued reports on DKL. Weiss Ratings lowered shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Zacks Research upgraded Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $55.60.

Delek Logistics Partners Price Performance

Shares of DKL opened at $56.66 on Monday. Delek Logistics Partners has a 12 month low of $42.35 and a 12 month high of $61.50. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a fifty day moving average price of $56.18 and a 200 day moving average price of $53.13. The company has a market cap of $3.24 billion, a P/E ratio of 19.90 and a beta of 0.44.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, research analysts forecast that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Insider Activity

In other news, President Avigal Soreq purchased 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $50.00 per share, for a total transaction of $125,000.00. Following the transaction, the president owned 84,782 shares in the company, valued at $4,239,100. This trade represents a 3.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Hobbs acquired 4,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $50.00 per share, for a total transaction of $200,000.00. Following the purchase, the executive vice president directly owned 24,125 shares in the company, valued at approximately $1,206,250. This represents a 19.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 15,000 shares of company stock worth $750,000 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of DKL. Tidal Investments LLC boosted its position in shares of Delek Logistics Partners by 60.9% during the 2nd quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer's stock valued at $379,000 after purchasing an additional 2,786 shares in the last quarter. NEOS Investment Management LLC raised its holdings in shares of Delek Logistics Partners by 56.0% in the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer's stock worth $8,935,000 after purchasing an additional 62,267 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Delek Logistics Partners in the 2nd quarter worth approximately $1,703,000. Focus Financial Network Inc. lifted its stake in Delek Logistics Partners by 2.2% during the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer's stock valued at $707,000 after purchasing an additional 300 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in Delek Logistics Partners during the second quarter valued at approximately $206,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP NYSE: DKL is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.

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