Delek Logistics Partners (NYSE:DKL) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Delek Logistics Partners from “strong buy” to “hold.” Combined with other analyst views, the company has a consensus “hold” rating and an average price target of $55.60.
• Delek Logistics reported quarterly earnings of $0.54 per share, missing the $0.93 consensus estimate by $0.39, despite revenue of $384.76 million exceeding expectations.
• Company insiders bought 15,000 shares worth $750,000 over the past 90 days, while institutional investors own 11.75% of the stock.

Delek Logistics Partners (NYSE:DKL - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their target price on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the company a "neutral" rating in a report on Monday. Weiss Ratings downgraded Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of "Hold" and an average target price of $55.60.

Delek Logistics Partners Stock Performance

Shares of NYSE DKL opened at $54.87 on Tuesday. Delek Logistics Partners has a 52 week low of $42.35 and a 52 week high of $61.50. The stock has a market capitalization of $3.14 billion, a PE ratio of 19.12 and a beta of 0.44. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a 50 day moving average price of $56.15 and a 200 day moving average price of $53.16.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm 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%. Analysts predict that Delek Logistics Partners will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Ezra Yemin bought 6,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the chairman owned 168,217 shares in the company, valued at approximately $8,410,850. This trade represents a 3.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Avigal Soreq purchased 2,500 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, with a total value of $125,000.00. Following the completion of the acquisition, the president owned 84,782 shares in the company, valued at $4,239,100. The trade was a 3.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 15,000 shares of company stock valued at $750,000 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its position in Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock worth $200,305,000 after acquiring an additional 165,741 shares during the period. NEOS Investment Management LLC raised its stake in 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 Delek Logistics Partners in the 2nd quarter valued at about $1,703,000. Castellan Group boosted its holdings in Delek Logistics Partners by 7.6% in the 1st quarter. Castellan Group now owns 91,162 shares of the oil and gas producer's stock valued at $4,536,000 after purchasing an additional 6,430 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Delek Logistics Partners by 91.1% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 10,782 shares of the oil and gas producer's stock worth $537,000 after purchasing an additional 5,141 shares in the last quarter. Institutional investors own 11.75% of the company's stock.

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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