Delek Logistics Partners (NYSE:DKL) Stock Price Target Raised at Citigroup

Key Points

• Citigroup raised its price target on Delek Logistics Partners from $52 to $56 but kept a neutral rating, implying about 3.3% upside. Analysts overall rate the stock “Hold,” with an average target of $56.40.
• The company’s latest quarter saw mixed results: revenue of $372.44 million exceeded expectations, while EPS of $0.85 fell short of the $0.97 consensus estimate.

Delek Logistics Partners (NYSE:DKL - Get Free Report) had its target price hoisted by investment analysts at Citigroup from $52.00 to $56.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. Citigroup's price target indicates a potential upside of 3.33% from the company's current price.

Several other equities analysts have also weighed in on the stock. UBS Group lifted 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, September 21st. Weiss Ratings cut shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday. Finally, Zacks Research downgraded shares of Delek Logistics Partners from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Delek Logistics Partners presently has an average rating of "Hold" and an average price target of $56.40.

Delek Logistics Partners Stock Performance

NYSE DKL traded up $0.20 during trading hours on Thursday, reaching $54.20. The stock had a trading volume of 5,385 shares, compared to its average volume of 104,761. The stock has a fifty day moving average of $55.50 and a 200 day moving average of $53.48. The stock has a market cap of $3.10 billion, a P/E ratio of 18.88 and a beta of 0.43. Delek Logistics Partners has a 52-week low of $43.12 and a 52-week high of $61.50. The company has a debt-to-equity ratio of 15.37, a quick ratio of 0.91 and a current ratio of 0.85.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly 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 business had revenue of $372.44 million for the quarter, compared to analysts' expectations of $355.44 million. Sell-side analysts predict that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Hedge Funds Weigh In On Delek Logistics Partners

Several large investors have recently bought and sold shares of DKL. HighTower Advisors LLC raised its position in shares of 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 acquiring an additional 406 shares in the last quarter. Alps Advisors Inc. raised its holdings in 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 in the last quarter. Arrow Investment Advisors LLC lifted its position in shares of 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 last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Delek Logistics Partners in the 3rd quarter valued at $225,000. Finally, Adams Asset Advisors LLC grew its position in shares of Delek Logistics Partners by 5.2% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors 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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