Mizuho Forecasts Strong Price Appreciation for Delek Logistics Partners (NYSE:DKL) Stock

Key Points

• Mizuho raised its price target on Delek Logistics Partners to $52 (from $45) while keeping a "neutral" rating, implying only about a 3.74% upside$54 (2 Buys, 3 Holds, 1 Sell).
• The company missed Q4 estimates (EPS $0.88 vs. $1.26 expected; revenue $255.8M vs. $283.6M) and carries a very high leverage profile with a debt-to-equity ratio of 386.77, despite reported net margin and ROE figures.
• Shares are trading around $50.13 (50-day/200-day moving averages $52.23/$48.27), with a 12-month range of $36.18–$55.89 and a market cap of about $2.68 billion.

Delek Logistics Partners (NYSE:DKL - Get Free Report) had its price target lifted by analysts at Mizuho from $45.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. Mizuho's price objective suggests a potential upside of 3.74% from the company's previous close.

A number of other analysts have also recently weighed in on DKL. Truist Financial began coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They set a "hold" rating and a $57.00 target price on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Weiss Ratings upgraded shares of Delek Logistics Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 4th. Zacks Research cut shares of Delek Logistics Partners from a "hold" rating to a "strong sell" rating in a report on Friday, January 23rd. Finally, Citigroup reiterated a "neutral" rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $54.00.

Delek Logistics Partners Trading Up 0.1%

NYSE DKL opened at $50.13 on Tuesday. The company's fifty day moving average price is $52.23 and its two-hundred day moving average price is $48.27. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 0.54 and a beta of 0.54. Delek Logistics Partners has a 12 month low of $36.18 and a 12 month high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings data 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). Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. The firm had revenue of $255.77 million during the quarter, compared to the consensus estimate of $283.64 million. As a group, research analysts predict that Delek Logistics Partners will post 4.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Delek Logistics Partners by 4.9% in the fourth 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 period. American Financial Group Inc. raised its stake in shares of 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 worth $759,000 after buying an additional 500 shares in the last quarter. Sharpepoint LLC lifted its holdings in shares of Delek Logistics Partners by 1.4% in the third quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer's stock valued at $1,725,000 after buying an additional 506 shares during the period. Exchange Traded Concepts LLC boosted its stake in Delek Logistics Partners by 3.2% during the third quarter. Exchange Traded Concepts LLC now owns 18,819 shares of the oil and gas producer's stock valued at $857,000 after buying an additional 588 shares in the last quarter. Finally, Focus Financial Network Inc. grew its holdings in Delek Logistics Partners by 4.7% during the third quarter. Focus Financial Network Inc. now owns 13,757 shares of the oil and gas producer's stock worth $626,000 after acquiring an additional 616 shares during the period. Institutional investors own 11.75% of the company's stock.

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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