Exclusive: Is Selling Stock Like Delek Logistics Partners LP After Such Decline Winning Strategy?

Exclusive: Is Selling Stock Like Delek Logistics Partners LP After Such Decline Winning Strategy?

The stock of Delek Logistics Partners LP (NYSE:DKL) is a huge mover today! The stock decreased 3.04% or $0.87 on October 3, hitting $27.71. About 60,033 shares traded hands. Delek Logistics Partners LP (NYSE:DKL) has declined 6.54% since March 1, 2016 and is downtrending. It has underperformed by 18.76% the S&P500.
The move comes after 5 months negative chart setup for the $680.74 million company. It was reported on Oct, 4 by Barchart.com. We have $26.32 PT which if reached, will make NYSE:DKL worth $34.04 million less.

Analysts await Delek Logistics Partners LP (NYSE:DKL) to report earnings on November, 1. They expect $0.54 EPS, down 22.86% or $0.16 from last year’s $0.7 per share. DKL’s profit will be $13.27M for 12.83 P/E if the $0.54 EPS becomes a reality. After $0.66 actual EPS reported by Delek Logistics Partners LP for the previous quarter, Wall Street now forecasts -18.18% negative EPS growth.

Delek Logistics Partners LP (NYSE:DKL) Ratings Coverage

Out of 4 analysts covering Delek Logistics Partners (NYSE:DKL), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Delek Logistics Partners has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was initiated by JP Morgan with “Overweight” on Friday, September 11. The rating was downgraded by Piper Jaffray on Monday, May 9 to “Neutral”. The firm has “Overweight” rating given on Friday, April 1 by Piper Jaffray. The firm earned “Equal-Weight” rating on Thursday, August 11 by Barclays Capital. Zacks downgraded Delek Logistics Partners LP (NYSE:DKL) on Thursday, August 6 to “Hold” rating. The firm has “Buy” rating by Goldman Sachs given on Tuesday, June 21.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.05, from 1.05 in 2016Q1. The ratio dropped, as 6 funds sold all Delek Logistics Partners LP shares owned while 15 reduced positions. 9 funds bought stakes while 12 increased positions. They now own 7.75 million shares or 2.51% less from 7.95 million shares in 2016Q1.
Moreover, King Luther Management Corp has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 8,000 shares. Blackrock Advisors Lc has 221,170 shares for 0.01% of their US portfolio. Liberty Mutual Asset Management accumulated 47,682 shares or 0.05% of the stock. California Pub Employees Retirement last reported 11,800 shares in the company. Manufacturers Life Ins Communications The holds 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 450 shares. Grp One Trading Limited Partnership accumulated 0% or 11,065 shares. Kornitzer Mgmt Ks has 140,000 shares for 0.07% of their US portfolio. Renaissance Technology Ltd owns 88,001 shares or 0% of their US portfolio. Barclays Public Limited Liability, a United Kingdom-based fund reported 45,479 shares. X Mgmt Ltd, a New York-based fund reported 220,344 shares. Hite Hedge Asset Mgmt Limited Liability Company has 36,683 shares for 0.4% of their US portfolio. Moreover, Fincl Bank Of America Corporation De has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 203,744 shares. Wells Fargo Co Mn accumulated 16,730 shares or 0% of the stock. Tower Research Capital Limited Liability (Trc) has 300 shares for 0% of their US portfolio. Clearbridge Investments Limited holds 648,643 shares or 0.02% of its portfolio.

Insider Transactions: Since April 4, 2016, the stock had 0 insider purchases, and 1 sale for $82,500 net activity. $82,500 worth of Delek Logistics Partners LP (NYSE:DKL) was sold by Thomas Kent B on Wednesday, April 27.

More notable recent Delek Logistics Partners LP (NYSE:DKL) news were published by: Nasdaq.com which released: “Delek Logistics Partners LP Breaks Below 200-Day Moving Average – Notable for DKL” on October 03, 2016, also Businesswire.com with their article: “Delek Logistics Partners, LP to Host Third Quarter 2016 Conference Call on …” published on September 23, 2016, Businesswire.com published: “Delek Logistics Partners, LP Reports Second Quarter 2016 Results” on August 04, 2016. More interesting news about Delek Logistics Partners LP (NYSE:DKL) were released by: Businesswire.com and their article: “Delek Logistics Partners, LP 2015 K-1 Tax Packages Available on Website” published on March 16, 2016 as well as Quotes.Wsj.com‘s news article titled: “DOW JONES, A NEWS CORP COMPANY” with publication date: February 12, 2011.

DKL Company Profile

Delek Logistics Partners, LP, incorporated on April 24, 2012, 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. The Firm operates through two divisions: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment. The Firm engaged in the gathering, transporting and storing crude oil; storing intermediate products and feed stocks, and marketing, distributing, transporting and storing refined products. The Firm also provides crude oil, intermediate and refined products transportation services for terminaling, and marketing services to third parties primarily in Texas, Tennessee and Arkansas. It was formed by Delek US Holdings, Inc. (Delek) and its indirect subsidiary, Delek Logistics GP, LLC.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment