Zacks Investment Research downgraded shares of Delek Logistics Partners LP (NYSE:DKL) from a hold rating to a strong sell rating in a research note published on Tuesday morning.

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. “

Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group Inc. raised Delek Logistics Partners from a neutral rating to a buy rating and set a $32.00 price target for the company in a report on Tuesday, June 21st. Barclays PLC dropped their target price on Delek Logistics Partners from $32.00 to $30.00 and set an equal weight rating for the company in a report on Thursday, August 11th. Simmons reissued a hold rating and issued a $31.00 target price (down from $33.00) on shares of Delek Logistics Partners in a report on Tuesday, June 21st. Finally, Wells Fargo & Co. cut Delek Logistics Partners from an outperform rating to a market perform rating in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $31.00.

Delek Logistics Partners (NYSE:DKL) opened at 26.31 on Tuesday. Delek Logistics Partners has a 1-year low of $21.84 and a 1-year high of $38.00. The stock has a 50 day moving average price of $27.46 and a 200 day moving average price of $27.83. The firm has a market capitalization of $639.39 million, a price-to-earnings ratio of 10.68 and a beta of 1.34.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08. Analysts predict that Delek Logistics Partners will post $2.37 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in DKL. Homrich & Berg raised its stake in Delek Logistics Partners by 5.3% in the second quarter. Homrich & Berg now owns 42,338 shares of the company’s stock worth $1,131,000 after buying an additional 2,145 shares during the period. Creative Planning raised its position in shares of Delek Logistics Partners by 797.0% in the second quarter. Creative Planning now owns 4,485 shares of the company’s stock worth $120,000 after buying an additional 3,985 shares during the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Delek Logistics Partners during the second quarter worth approximately $211,000. Cbre Clarion Securities LLC raised its position in shares of Delek Logistics Partners by 7.8% in the second quarter. Cbre Clarion Securities LLC now owns 135,915 shares of the company’s stock worth $3,630,000 after buying an additional 9,827 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its position in shares of Delek Logistics Partners by 142.9% in the second quarter. HITE Hedge Asset Management LLC now owns 36,683 shares of the company’s stock worth $980,000 after buying an additional 21,579 shares during the last quarter.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.

5 Day Chart for NYSE:DKL

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