Citigroup Reiterates Neutral Rating for Delek Logistics Partners (NYSE:DKL)

Key Points

• Citigroup reiterated a neutral rating with a $52 price target, implying roughly a 1.98% downside from the stock's recent price.
• The company missed last quarter's estimates, reporting $0.88 EPS (vs. $1.26 expected) and $255.77M revenue (vs. $283.64M expected), and carries a very high debt-to-equity ratio of 386.77.
• Overall analyst sentiment is mixed with a consensus Hold rating and an average price target of $50.67 (2 Buys, 2 Holds, 1 Sell).

Delek Logistics Partners (NYSE:DKL - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at Citigroup in a report issued on Friday, MarketBeat reports. They currently have a $52.00 price objective on the oil and gas producer's stock. Citigroup's price objective indicates a potential downside of 1.98% from the stock's current price.

Other analysts have also recently issued reports about the stock. Zacks Research cut shares of Delek Logistics Partners from a "hold" rating to a "strong sell" rating in a research note on Friday, January 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Delek Logistics Partners in a research note on Thursday. Finally, Weiss Ratings raised shares of Delek Logistics Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.67.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $53.05 on Friday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.48 and a beta of 0.51. Delek Logistics Partners has a 1 year low of $34.59 and a 1 year high of $55.89. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 386.77. The business has a fifty day simple moving average of $50.26 and a 200 day simple moving average of $46.65.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.38). The firm had revenue of $255.77 million during the quarter, compared to analyst estimates of $283.64 million. Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%. As a group, sell-side analysts predict that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds have recently bought and sold shares of the company. Motiv8 Investments LLC acquired a new stake in shares of Delek Logistics Partners in the fourth quarter valued at about $192,000. Van ECK Associates Corp lifted its position in shares of Delek Logistics Partners by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer's stock worth $248,000 after purchasing an additional 258 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Delek Logistics Partners by 31.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer's stock valued at $603,000 after purchasing an additional 3,257 shares during the period. American Financial Group Inc. grew its holdings in Delek Logistics Partners by 3.0% in the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer's stock valued at $759,000 after buying an additional 500 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock worth $200,305,000 after buying an additional 165,741 shares during the period. 11.75% of the stock is currently owned by institutional investors.

About Delek Logistics Partners

Delek Logistics Partners L.P. NYSE: DKL is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership's core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.

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