Delek Logistics Partners (NYSE:DKL) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Delek Logistics Partners from “hold” to “strong sell.” Other analyst views remain mixed, with MarketBeat reporting an overall “hold” consensus and a $56.40 average price target.
• In its latest quarter, the company reported earnings of $0.85 per share, below the $0.97 consensus estimate, while revenue of $372.44 million exceeded estimates of $355.44 million.

Delek Logistics Partners (NYSE:DKL - Get Free Report) was downgraded by equities research 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.

DKL has been the topic of several other research reports. UBS Group raised 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 note on Monday, September 21st. Weiss Ratings cut shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Citigroup increased their price target on shares of Delek Logistics Partners from $52.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.40.

Delek Logistics Partners Stock Performance

DKL opened at $53.71 on Wednesday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 18.81 and a beta of 0.43. The stock's 50 day moving average price is $55.47 and its two-hundred day moving average price is $53.51. The company has a quick ratio of 0.91, a current ratio of 0.85 and a debt-to-equity ratio of 15.37. Delek Logistics Partners has a 12-month low of $43.12 and a 12-month high of $61.50.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The oil and gas producer reported $0.85 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 business had revenue of $372.44 million for the quarter, compared to analyst estimates of $355.44 million. On average, equities analysts forecast that Delek Logistics Partners will post 3.05 earnings per share for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently made changes to their positions in DKL. HighTower Advisors LLC raised its position in Delek Logistics Partners by 5.7% in the 3rd quarter. HighTower Advisors LLC now owns 7,520 shares of the oil and gas producer's stock valued at $400,000 after purchasing an additional 406 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 28.5% during the third quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer's stock worth $299,831,000 after purchasing an additional 1,250,721 shares during the last quarter. Arrow Investment Advisors LLC grew its holdings in shares of Delek Logistics Partners by 8.9% during the third quarter. Arrow Investment Advisors LLC now owns 4,624 shares of the oil and gas producer's stock worth $246,000 after purchasing an additional 379 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Delek Logistics Partners during the third quarter worth $225,000. Finally, Adams Asset Advisors LLC increased its stake in shares of 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. Institutional investors and hedge funds own 11.75% of the company's stock.

About Delek Logistics Partners

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.

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