Delek Logistics Partners (NYSE:DKL) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports.

According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “

Delek Logistics Partners stock traded down $0.17 during trading on Monday, reaching $32.35. 34,300 shares of the company’s stock were exchanged, compared to its average volume of 35,146. The business’s 50-day simple moving average is $31.37. Delek Logistics Partners has a 52-week low of $27.01 and a 52-week high of $35.50. The company has a market cap of $809.91 million, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 6.15 and a beta of 1.02.



Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). Delek Logistics Partners had a negative return on equity of 67.06% and a net margin of 14.00%. The business had revenue of $152.48 million for the quarter, compared to analysts’ expectations of $151.96 million. Research analysts predict that Delek Logistics Partners will post 2.74 EPS for the current fiscal year.

In related news, Director Francis C. D’andrea sold 888 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.64, for a total transaction of $27,208.32. Following the completion of the sale, the director now directly owns 11,384 shares of the company’s stock, valued at approximately $348,805.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

A number of hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. lifted its holdings in Delek Logistics Partners by 5.8% in the 1st quarter. First Republic Investment Management Inc. now owns 8,915 shares of the oil and gas producer’s stock worth $289,000 after buying an additional 487 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Delek Logistics Partners by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 208,305 shares of the oil and gas producer’s stock worth $6,755,000 after buying an additional 870 shares in the last quarter. Tortoise Index Solutions LLC lifted its holdings in Delek Logistics Partners by 99.4% in the 4th quarter. Tortoise Index Solutions LLC now owns 2,903 shares of the oil and gas producer’s stock worth $85,000 after buying an additional 1,447 shares in the last quarter. Barclays PLC lifted its holdings in Delek Logistics Partners by 2,214.8% in the 4th quarter. Barclays PLC now owns 2,824 shares of the oil and gas producer’s stock worth $83,000 after buying an additional 2,702 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in Delek Logistics Partners in the 4th quarter worth $87,000. Hedge funds and other institutional investors own 21.56% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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