Clearbridge Investments LLC Lowers Holdings in Delek Logistics Partners LP (NYSE:DKL)
Clearbridge Investments LLC decreased its holdings in Delek Logistics Partners LP (NYSE:DKL) by 38.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 406,143 shares of the oil and gas producer’s stock after selling 252,000 shares during the quarter. Clearbridge Investments LLC owned approximately 1.35% of Delek Logistics Partners worth $3,696,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of DKL. Morgan Stanley grew its holdings in Delek Logistics Partners by 192.4% in the 1st quarter. Morgan Stanley now owns 240,976 shares of the oil and gas producer’s stock valued at $2,193,000 after buying an additional 158,557 shares during the period. FMR LLC grew its holdings in Delek Logistics Partners by 130.3% in the 4th quarter. FMR LLC now owns 153,601 shares of the oil and gas producer’s stock valued at $4,909,000 after buying an additional 86,901 shares during the period. Harvest Fund Advisors LLC purchased a new stake in Delek Logistics Partners in the 1st quarter valued at about $725,000. Tortoise Capital Advisors L.L.C. grew its holdings in Delek Logistics Partners by 3.5% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 1,760,250 shares of the oil and gas producer’s stock valued at $56,257,000 after buying an additional 59,153 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Delek Logistics Partners in the 4th quarter valued at about $828,000. Institutional investors own 15.27% of the company’s stock.
DKL has been the subject of several recent analyst reports. Credit Suisse Group upgraded Delek Logistics Partners from an “underperform” rating to a “neutral” rating in a report on Tuesday, April 21st. ValuEngine raised Delek Logistics Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Wells Fargo & Co lifted their price objective on Delek Logistics Partners from $12.00 to $21.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Zacks Investment Research raised Delek Logistics Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, June 11th. Finally, Raymond James lowered Delek Logistics Partners from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.
Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $0.76 EPS for the quarter, topping the consensus estimate of $0.59 by $0.17. The firm had revenue of $163.40 million for the quarter, compared to analyst estimates of $138.06 million. Delek Logistics Partners had a negative return on equity of 80.26% and a net margin of 16.27%. On average, equities analysts expect that Delek Logistics Partners LP will post 3.09 earnings per share for the current fiscal year.
Delek Logistics Partners Company Profile
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.
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