Truist Financial Initiates Coverage on Delek Logistics Partners (NYSE:DKL)

Investment analysts at Truist Financial assumed coverage on shares of Delek Logistics Partners (NYSE:DKL) in a report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $46.00 price target on the oil and gas producer’s stock. Truist Financial’s price objective indicates a potential upside of 21.05% from the company’s previous close.

A number of other analysts have also issued reports on DKL. 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 19th. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Delek Logistics Partners Stock Performance

DKL opened at $38.00 on Friday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.10 and a beta of 2.07. The stock’s 50 day moving average price is $41.75 and its 200-day moving average price is $44.28. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $254.15 million for the quarter, compared to analysts’ expectations of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, analysts predict that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of DKL. Alps Advisors Inc. increased its position in shares of Delek Logistics Partners by 13.1% during the third quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after purchasing an additional 177,242 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Delek Logistics Partners by 245.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock worth $20,930,000 after purchasing an additional 344,464 shares in the last quarter. Infrastructure Capital Advisors LLC increased its position in shares of Delek Logistics Partners by 343.5% during the third quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock worth $9,368,000 after purchasing an additional 172,874 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 15.6% during the first quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock worth $8,613,000 after purchasing an additional 26,425 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Delek Logistics Partners by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 151,431 shares of the oil and gas producer’s stock worth $6,537,000 after purchasing an additional 19,500 shares in the last quarter. Hedge funds and other institutional investors 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.