Delek Logistics Partners (NYSE:DKL) Upgraded to “Sell” at ValuEngine

ValuEngine upgraded shares of Delek Logistics Partners (NYSE:DKL) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded Delek Logistics Partners from a sell rating to a hold rating and set a $36.00 target price on the stock in a report on Thursday, November 7th.

NYSE:DKL opened at $31.06 on Tuesday. The firm’s fifty day simple moving average is $31.81 and its 200 day simple moving average is $31.41. Delek Logistics Partners has a twelve month low of $27.01 and a twelve month high of $34.12. The firm has a market capitalization of $800.27 million, a price-to-earnings ratio of 11.72, a PEG ratio of 5.58 and a beta of 0.98.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.76 by $0.13. The company had revenue of $137.56 million for the quarter, compared to analyst estimates of $160.77 million. Delek Logistics Partners had a negative return on equity of 62.69% and a net margin of 14.60%. Equities research analysts forecast that Delek Logistics Partners will post 2.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 11.33%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 132.83%.

Several hedge funds have recently made changes to their positions in DKL. BNP Paribas Arbitrage SA grew its holdings in Delek Logistics Partners by 69,700.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,094 shares of the oil and gas producer’s stock valued at $67,000 after purchasing an additional 2,091 shares in the last quarter. CWM LLC acquired a new position in Delek Logistics Partners in the 2nd quarter worth $94,000. HighTower Advisors LLC purchased a new position in Delek Logistics Partners in the 2nd quarter valued at about $231,000. GSA Capital Partners LLP purchased a new position in Delek Logistics Partners in the 2nd quarter valued at about $325,000. Finally, Arrow Investment Advisors LLC grew its stake in shares of Delek Logistics Partners by 14.6% during the third quarter. Arrow Investment Advisors LLC now owns 14,039 shares of the oil and gas producer’s stock valued at $439,000 after acquiring an additional 1,789 shares in the last quarter. Institutional investors and hedge funds own 21.67% of the company’s stock.

Delek Logistics Partners Company Profile

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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