Delek Logistics Partners (NYSE:DKL) Upgraded to "Buy" at StockNews.com

Delek Logistics Partners (NYSE:DKL - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

Separately, Raymond James raised shares of Delek Logistics Partners from a "market perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research note on Tuesday, March 19th.

Delek Logistics Partners Price Performance

Shares of DKL stock traded down $0.48 during midday trading on Tuesday, reaching $38.59. 83,528 shares of the company traded hands, compared to its average volume of 71,156. The firm's 50 day simple moving average is $42.95 and its two-hundred day simple moving average is $44.54. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81. The firm has a market cap of $1.68 billion, a PE ratio of 13.31 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share for the quarter, hitting analysts' consensus estimates of $0.85. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The business had revenue of $254.15 million during the quarter, compared to analysts' expectations of $272.51 million. As a group, research analysts anticipate that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Institutional Trading of Delek Logistics Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. purchased a new stake in Delek Logistics Partners in the 1st quarter worth approximately $35,000. VitalStone Financial LLC grew its stake in shares of Delek Logistics Partners by 6,040.0% during the 2nd quarter. VitalStone Financial LLC now owns 921 shares of the oil and gas producer's stock valued at $50,000 after buying an additional 906 shares during the period. Spirit of America Management Corp NY purchased a new stake in shares of Delek Logistics Partners during the 4th quarter valued at $86,000. BNP Paribas Arbitrage SNC purchased a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at $121,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at $103,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.

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