Truist Financial Forecasts Strong Price Appreciation for Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners (NYSE:DKL) had its price target lifted by equities research analysts at Truist Financial from $46.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s target price suggests a potential upside of 29.53% from the company’s previous close.

Other research analysts have also issued reports about the company. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Performance

Shares of DKL traded down $0.36 during midday trading on Monday, hitting $38.60. 80,967 shares of the stock were exchanged, compared to its average volume of 109,024. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $53.80. The stock has a fifty day simple moving average of $40.78 and a 200 day simple moving average of $40.21. The firm has a market cap of $1.99 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.12 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $214.07 million for the quarter, compared to analysts’ expectations of $270.98 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Delek Logistics Partners news, President Avigal Soreq purchased 2,563 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was bought at an average cost of $39.00 per share, with a total value of $99,957.00. Following the acquisition, the president now directly owns 46,758 shares of the company’s stock, valued at approximately $1,823,562. This represents a 5.80 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Reuven Spiegel purchased 1,282 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,223 shares in the company, valued at $788,697. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 10,934 shares of company stock valued at $426,348 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $49,000. Van ECK Associates Corp increased its position in shares of Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 1,437 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $70,000. Sittner & Nelson LLC acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $109,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Delek Logistics Partners during the third quarter worth about $131,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

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.