Revenue Update on Delek Logistics Partners LP(NYSE:DKL)

Delek Logistics Partners LP(NYSE:DKL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $111.85M. Analysts estimated a revenue of $106.97M. Earnings per share were $0.66. Analysts had estimated an EPS of $0.58.

In a different note, On Jun 21, 2016, Goldman Sachs said it Upgrades its rating on Delek Logistics Partners LP. The shares have been rated ‘Buy’ by the firm. On May 9, 2016, Piper Jaffray said it Downgrades its rating on Delek Logistics Partners LP. The shares have been rated ‘Neutral’ by the firm.

Delek Logistics Partners LP (DKL) made into the market gainers list on Fridays trading session with the shares advancing 4.06% or 1.11 points. Due to strong positive momentum, the stock ended at $28.43, which is also near the day’s high of $29.37. The stock began the session at $27.46 and the volume stood at 1,30,997 shares. The 52-week high of the shares is $40.5 and the 52 week low is $21.84. The company has a current market capitalization of $691 M and it has 2,43,02,780 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Apr 29, 2016, Kent B Thomas (Executive Vice President) sold 2,500 shares at $33.00 per share price.Also, 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.

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