Delek Logistics Partners (NYSE:DKL) Earns Buy Rating from Analysts at Truist Financial

Equities researchers at Truist Financial initiated coverage on shares of Delek Logistics Partners (NYSE:DKL) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $46.00 price target on the oil and gas producer’s stock. Truist Financial’s target price would indicate a potential upside of 19.73% from the stock’s current price.

Several other equities research analysts also recently issued reports on DKL. StockNews.com upgraded Delek Logistics Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. 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. One research analyst has rated the stock with a hold rating and three have issued 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.

Delek Logistics Partners Stock Up 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 stock’s 50 day moving average is $41.63 and its two-hundred day moving average is $44.29. The company has a market capitalization of $1.68 billion, a PE ratio of 13.25 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, hitting 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 anticipate that Delek Logistics Partners will post 3.48 EPS for the current year.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently made changes to their positions in DKL. JPMorgan Chase & Co. increased its holdings in shares of Delek Logistics Partners by 15.6% in the 1st quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock valued at $8,613,000 after acquiring an additional 26,425 shares during the last quarter. First Trust Advisors LP boosted its position in Delek Logistics Partners by 27.6% during the 1st 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 boosted its position in Delek Logistics Partners by 7.6% during the 1st quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock valued at $312,000 after purchasing an additional 499 shares during the period. First Republic Investment Management Inc. boosted its position in Delek Logistics Partners by 38.4% during the 1st quarter. First Republic Investment Management Inc. now owns 9,835 shares of the oil and gas producer’s stock valued at $433,000 after purchasing an additional 2,729 shares during the period. Finally, Royal Bank of Canada boosted its position in Delek Logistics Partners by 6.7% during the 1st quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock valued at $352,000 after purchasing an additional 500 shares during the period. 11.75% of the stock is currently owned by institutional investors.

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.