Delek Logistics Partners (NYSE:DKL) Price Target Raised to $46.00

Delek Logistics Partners (NYSE:DKL) had its target price increased by investment analysts at Raymond James from $44.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ price target indicates a potential upside of 6.24% from the company’s current price.

A number of other analysts have also recently commented on the company. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America initiated coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price on the stock. Finally, Truist Financial increased their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.25.

Delek Logistics Partners Stock Up 0.8 %

DKL opened at $43.30 on Tuesday. The company has a market cap of $2.23 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.40 and a beta of 2.10. The firm’s 50-day moving average price is $41.38 and its 200-day moving average price is $40.80. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $47.67.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the previous year, the company posted $0.80 EPS. On average, research analysts anticipate that Delek Logistics Partners will post 3.05 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 4,835 shares of company stock valued at $192,184 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC raised its holdings in Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after purchasing an additional 464,343 shares during the period. Adams Asset Advisors LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth approximately $2,544,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Delek Logistics Partners during the 4th quarter valued at approximately $1,690,000. Infrastructure Capital Advisors LLC grew its stake in Delek Logistics Partners by 18.6% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after acquiring an additional 39,577 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Delek Logistics Partners by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock worth $10,678,000 after acquiring an additional 31,654 shares in the last quarter. 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.