Zacks Investment Research lowered shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a research report released on Tuesday.
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. “
DKL has been the subject of several other research reports. ValuEngine downgraded Delek Logistics Partners from a hold rating to a sell rating in a research note on Thursday, November 1st. Credit Suisse Group started coverage on Delek Logistics Partners in a research note on Thursday, October 11th. They set an underperform rating and a $31.00 target price for the company. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The company presently has a consensus rating of Sell and an average price target of $33.67.
Shares of NYSE DKL opened at $30.56 on Tuesday. The stock has a market cap of $772.40 million, a PE ratio of 14.62 and a beta of 1.20. Delek Logistics Partners has a 52 week low of $26.50 and a 52 week high of $35.50.
Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, November 6th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.16). Delek Logistics Partners had a net margin of 13.52% and a negative return on equity of 83.79%. The business had revenue of $164.11 million for the quarter, compared to the consensus estimate of $214.10 million. Analysts expect that Delek Logistics Partners will post 2.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, November 2nd were paid a dividend of $0.79 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, November 1st. This represents a $3.16 annualized dividend and a yield of 10.34%. Delek Logistics Partners’s dividend payout ratio is presently 151.20%.
A number of large investors have recently made changes to their positions in DKL. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth approximately $9,591,000. First Trust Advisors LP bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth approximately $7,137,000. FMR LLC bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth approximately $6,008,000. Tortoise Capital Advisors L.L.C. bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth approximately $4,054,000. Finally, Biglari Capital CORP. bought a new stake in shares of Delek Logistics Partners in the 2nd quarter worth approximately $2,876,000. Hedge funds and other institutional investors own 23.53% 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.
Featured Article: Debt-To-Equity Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Delek Logistics Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek Logistics Partners and related companies with MarketBeat.com's FREE daily email newsletter.