Delek Logistics Partners LP (DKL) is Downgraded by Piper Jaffray to Neutral

Delek Logistics Partners LP (DKL) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on May 9, 2016.

Many Wall Street Analysts have commented on Delek Logistics Partners LP. Shares were Reiterated by Barclays on Feb 29, 2016 to “Equal Weight” and Lowered the Price Target to $ 36 from a previous price target of $38 .

On the company’s financial health, Delek Logistics Partners LP reported $0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.72. The company had revenue of $108.90 million for the quarter, compared to analysts expectations of $175.43 million. The company’s revenue was down -37.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.

Delek Logistics Partners LP closed down -3.3 points or -10.14% at $29.24 with 3,36,851 shares getting traded on Friday. Post opening the session at $32.55, the shares hit an intraday low of $28.76 and an intraday high of $32.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 29, 2016, Kent B Thomas (Executive Vice President) sold 2,500 shares at $33.00 per share price. According to the SEC, on Mar 4, 2016, Andrew L Schwarcz (EVP / General Counsel) sold 4,165 shares at $29.24 per share price. On Dec 14, 2015, Daniel L Gordon (Executive Vice President) sold 1,000 shares at $29.73 per share price, according to the Form-4 filing with the securities and exchange commission.

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 the assets liabilities and results of operations of certain crude oil and refined product pipelines and transportation storage wholesale marketing and terminalling assets. Its business consists of two operating segments: Pipelines and Transportation segment providing crude oil gathering and crude oil intermediate and finished products transportation and storage services and Wholesale Marketing and Terminalling segment offering marketing services for refined products. It was formed by Delek US Holdings Inc. and its indirect subsidiary Delek Logistics GP LLC. The Company generates revenue from gathering transporting and storing crude oil for storing intermediate products and feed stocks and for marketing distributing transporting and storing refined products.

Delek Logistics Partners LP

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