Live Price Coverage: After Achieving Yearly Low, Is Delek Logistics Partners LP’s Near-Term Analysis Negative?

Live Price Coverage: After Achieving Yearly Low, Is Delek Logistics Partners LP's Near Term Analysis Negative?

The stock of Delek Logistics Partners LP (NYSE:DKL) hit a new 52-week low and has $20.18 target or 9.00% below today’s $22.18 share price. The 5 months bearish chart indicates high risk for the $526.79M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $20.18 price target is reached, the company will be worth $47.41 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 42,414 shares traded hands. Delek Logistics Partners LP (NYSE:DKL) has declined 26.30% since April 1, 2016 and is downtrending. It has underperformed by 27.51% the S&P500.

Delek Logistics Partners LP (NYSE:DKL) Ratings Coverage

Out of 5 analysts covering Delek Logistics Partners (NYSE:DKL), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Delek Logistics Partners has been the topic of 9 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Thursday, August 11 by Barclays Capital. The firm has “Overweight” rating given on Friday, September 11 by JP Morgan. The stock of Delek Logistics Partners LP (NYSE:DKL) has “Buy” rating given on Tuesday, June 21 by Goldman Sachs. As per Monday, May 9, the company rating was downgraded by Piper Jaffray. The rating was downgraded by Wells Fargo on Monday, October 3 to “Market Perform”. The firm has “Hold” rating given on Thursday, August 6 by Zacks. As per Friday, April 1, the company rating was reinitiated by Piper Jaffray.

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 dived, 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, Jpmorgan Chase has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 4,000 shares. Cbre Clarion Securities Ltd Llc has 135,915 shares for 0.03% of their US portfolio. Cushing Asset Mgmt L P accumulated 90,000 shares or 0.09% of the stock. Moreover, Morgan Stanley has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 171,078 shares. Kornitzer Capital Mgmt Ks last reported 0.07% of its portfolio in the stock. Commercial Bank Of America Corporation De has 0% invested in the company for 203,744 shares. Berson And Corrado Invest Advisors Limited Co accumulated 8,000 shares or 0.14% of the stock. King Luther Capital Mgmt reported 8,000 shares or 0% of all its holdings. Parkside Financial Bank Trust last reported 8,210 shares in the company. Wells Fargo & Mn holds 16,730 shares or 0% of its portfolio. Blackrock Advsrs Ltd Limited Liability Company holds 0.01% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 221,170 shares. Clearbridge Lc last reported 0.02% of its portfolio in the stock. Hite Hedge Asset Management Limited holds 0.4% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 36,683 shares. Finemark Commercial Bank last reported 0% of its portfolio in the stock. The New York-based Citigroup has invested 0% in Delek Logistics Partners LP (NYSE:DKL).

More notable recent Delek Logistics Partners LP (NYSE:DKL) news were published by: Reuters.com which released: “BRIEF-Delek Logistics Partners Lp – Caddo pipeline to be completed in Jan …” on November 01, 2016, also Nasdaq.com with their article: “Delek Logistics Partners, L.P. (DKL) Ex-Dividend Date Scheduled for November …” published on November 02, 2016, Nasdaq.com published: “Delek Logistics Partners LP Breaks Below 200-Day Moving Average – Notable for DKL” on October 03, 2016. More interesting news about Delek Logistics Partners LP (NYSE:DKL) were released by: Businesswire.com and their article: “Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.655 …” published on October 25, 2016 as well as Businesswire.com‘s news article titled: “Delek Logistics Partners, LP Reports Second Quarter 2016 Results” with publication date: August 04, 2016.

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.

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