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Delek Logistics Partners (NYSE:DKL) gets a buy rating from analysts at Truist Financial

Vaseline 1 month ago


Stock researchers at Truist Financial have started covering shares of Delek Logistics Partners (NYSE:DKL – Get a Free Report) Marketbeat Ratings said this in a report released on Friday. The brokerage set a buy rating and a $46.00 price target on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 19.73% from the stock’s current price.

Several other stock analysts have also recently issued reports on DKL. StockNews.com raised Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9. Raymond James upgraded Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, March 19. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $45.33.

Check out our latest stock report on DKL

Delek Logistics Partners stock rises 1.1%

DKL stock opened at $38.42 on Friday. Delek Logistics Partners has a 52-week low of $36.50 and a 52-week high of $58.81. The 50 day moving average is $41.63 and the two hundred day moving average is $44.29. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 13.25 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL – Get Free Report) posted its latest quarterly earnings data on Tuesday, February 27. The oil and gas producer reported $0.85 earnings per share for the quarter, exceeding the consensus estimate of $0.85. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. The company had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. As a group, sell-side analysts expect Delek Logistics Partners to post 3.48 earnings per share for the current year.

Institutional investors are considering Delek Logistics Partners

A number of institutional investors have recently made changes to their positions in DKL. JPMorgan Chase & Co. increased its stake in Delek Logistics Partners shares by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer, worth $8,613,000, after acquiring an additional 26,425 shares in the last quarter. First Trust Advisors LP strengthened its position in Delek Logistics Partners by 27.6% during the first quarter. First Trust Advisors LP now owns 89,835 shares of the oil and gas producer’s stock valued at $3,952,000 after purchasing an additional 19,430 shares during the period. Vident Investment Advisory LLC strengthened its position in Delek Logistics Partners by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after purchasing an additional 499 shares during the period. First Republic Investment Management Inc. strengthened its position in Delek Logistics Partners by 38.4% during the first quarter. First Republic Investment Management Inc. now owns 9,835 shares of the oil and gas producer’s stock worth $433,000 after purchasing an additional 2,729 shares during the period. Finally, Royal Bank of Canada strengthened its position in Delek Logistics Partners by 6.7% during the first quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer valued at $352,000 after purchasing an additional 500 shares during the period. 11.75% of the shares are currently held by institutional investors.

About Delek Logistic Partners

(Get a free report)

Delek Logistics Partners, LP provides collection, pipeline, transportation and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, water discharge terminalling and recycling throughout the United States. The Gathering and Processing segment consists of pipelines, tanks and offloading facilities that provide crude oil and natural gas collection and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.

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