Delek Logistics Partners (NYSE:DKL) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a research report report published on Friday morning, ValuEngine reports.

Separately, Zacks Investment Research downgraded Delek Logistics Partners from a hold rating to a sell rating in a report on Thursday, July 18th.

Shares of Delek Logistics Partners stock traded down $0.08 on Friday, reaching $32.00. 31,197 shares of the stock were exchanged, compared to its average volume of 27,329. Delek Logistics Partners has a twelve month low of $27.01 and a twelve month high of $35.50. The company has a market capitalization of $827.09 million, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 6.08 and a beta of 1.01. The company has a 50 day simple moving average of $32.01.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Monday, May 6th. The oil and gas producer reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). Delek Logistics Partners had a negative return on equity of 67.06% and a net margin of 14.00%. The firm had revenue of $152.48 million for the quarter, compared to analyst estimates of $151.96 million. As a group, sell-side analysts forecast that Delek Logistics Partners will post 2.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Monday, August 5th will be given a dividend of $0.85 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 10.63%. The ex-dividend date is Friday, August 2nd. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 123.77%.

In related news, Director Francis C. D’andrea sold 888 shares of Delek Logistics Partners stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $30.64, for a total transaction of $27,208.32. Following the completion of the transaction, the director now directly owns 11,384 shares in the company, valued at $348,805.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

A number of hedge funds have recently made changes to their positions in DKL. BNP Paribas Arbitrage SA raised its position in Delek Logistics Partners by 69,700.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,094 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 2,091 shares in the last quarter. Barclays PLC increased its position in shares of Delek Logistics Partners by 2,214.8% in the fourth quarter. Barclays PLC now owns 2,824 shares of the oil and gas producer’s stock valued at $83,000 after buying an additional 2,702 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of Delek Logistics Partners in the fourth quarter valued at approximately $87,000. CWM LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at approximately $94,000. Finally, First Republic Investment Management Inc. increased its position in shares of Delek Logistics Partners by 5.8% in the first quarter. First Republic Investment Management Inc. now owns 8,915 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 487 shares in the last quarter. Institutional investors own 21.56% of the company’s stock.

About Delek Logistics Partners

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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