StockNews.com Downgrades Delek Logistics Partners (NYSE:DKL) to Buy

Delek Logistics Partners (NYSE:DKL) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Separately, Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th.

Delek Logistics Partners Price Performance

Shares of NYSE:DKL opened at $43.35 on Tuesday. The business’s 50-day moving average is $40.80 and its 200 day moving average is $40.06. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $53.80. The firm has a market capitalization of $2.05 billion, a P/E ratio of 15.65 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The company had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same period in the prior year, the company posted $0.73 EPS. On average, analysts expect that Delek Logistics Partners will post 3.41 EPS for the current year.

Insider Activity

In other news, CFO Reuven Spiegel acquired 3,885 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $38.98 per share, with a total value of $151,437.30. Following the completion of the acquisition, the chief financial officer now owns 20,163 shares of the company’s stock, valued at $785,953.74. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Sherri Anne Brillon acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now owns 11,433 shares of the company’s stock, valued at $445,887. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Reuven Spiegel bought 3,885 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the acquisition, the chief financial officer now owns 20,163 shares of the company’s stock, valued at $785,953.74. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in Delek Logistics Partners during the first quarter worth about $66,000. Van ECK Associates Corp grew its holdings in Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after acquiring an additional 1,437 shares during the period. Strategic Financial Concepts LLC grew its holdings in Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after acquiring an additional 484,571 shares during the period. HB Wealth Management LLC purchased a new position in Delek Logistics Partners during the second quarter worth approximately $203,000. Finally, Focus Financial Network Inc. ADV purchased a new position in Delek Logistics Partners during the fourth quarter worth approximately $408,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

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.