Delek Logistics Partners Stock (NYSE: DKL)

Delek Logistics Partners Stock (NYSE:DKL), Trade Ideas

Delek Logistics Partners

Delek Logistics Partners LP owns and operates logistics and marketing assets for crude oil and intermediate and refined products. The company's segment includes Pipelines and Transportation; Pipelines and Transportation and Investments in Pipeline Joint Ventures. It generates maximum revenue from the Pipelines and Transportation segment. The pipelines and Transportation segment consist of pipelines, tanks, offloading facilities, trucks, and ancillary assets, which provide crude oil gathering and crude oil, intermediate and refined products transportation and storage services in support of Delek Holdings' refining operations in Tyler, Texas, El Dorado, Arkansas and Spring, Texas.

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Delek Logistics Partners, L.P. Common Units representing Limited Partner Interests

Delek Logistics Partners LP

DECKLAR RES INC by Decklar Resources Inc.

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Truist Securities analyst Neal Dingmann initiates coverage on Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) with a Buy rating and announces Price Target of $46.

Initiation

Truist Securities Initiates Coverage On Delek Logistics Partners with Buy Rating, Announces Price Target of $46

WIIM

Delek Logistics Partners shares are trading higher after Raymond James upgraded the stock from Market Perform to Outperform and announced a $45 price target.

Raymond James analyst Justin Jenkins upgrades Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) from Market Perform to Outperform and announces $45 price target.

Upgrades

Raymond James Upgrades Delek Logistics Partners to Outperform, Announces $45 Price Target

Delek Logistics Partners shares are trading lower after the company priced a public offering of 3,116,884 common units at $38.50 per unit.

Delek Logistics Partners, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) (&quot;Delek Logistics&quot;) announced today the pricing of its underwritten public offering of 3,116,884 common units representing limited partner interests in Delek Logistics at $38.50 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the &quot;SEC&quot;). A preliminary prospectus supplement relating to the offering has also been filed with the SEC. Delek Logistics has granted the underwriters a 30-day option to purchase up to 467,532 additional common units. Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters&#39; exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement.

Delek Logistics Partners Prices Public Offering Of 3,116,884 Common Units At $38.50/Unit

Delek Logistics Partners shares are trading lower after the company announced a $120 million proposed public offering of common units.

Delek Logistics Partners, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) (&quot;Delek Logistics&quot;) announced today that it has commenced an underwritten public offering of&nbsp;$120,000,000&nbsp;of common units representing limited partner interests in Delek Logistics pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the &quot;SEC&quot;). A preliminary prospectus supplement relating to the offering will also be filed with the SEC. Delek Logistics intends to grant the underwriters a 30-day option to purchase up to an additional&nbsp;$13,500,000&nbsp;of common units. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters&#39; exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement.
Delek US Holdings, Inc. (&quot;Delek Holdings&quot;), the sponsor of Delek Logistics and owner of its general partner, has indicated an interest in purchasing up to&nbsp;$30,000,000&nbsp;of the common units offered in the offering at the price offered to the public. Because this indication is not a binding agreement or commitment to purchase, Delek Holdings may elect not to purchase any units in the offering, or the underwriters may elect not to sell any units in the offering to Delek Holdings. In the event that Delek Holdings confirms its interest, Delek Logistics will request that the underwriters consider selling to Delek Holdings such amount of the common units offered in the offering.

Offerings

Delek Logistics Partners, LP Announces $120M Proposed Public Offering Of Common Units

The aggregate principal amount of the offering was increased from the previously announced offering size of&nbsp;$550 million.
The offering is expected to close&nbsp;March 13, 2024, subject to satisfaction of customary closing conditions. Delek Logistics intends to use the net proceeds from the offering to (i) repurchase or redeem all of the outstanding&nbsp;6.75%&nbsp;Senior Notes due 2025 (the &quot;2025 Notes&quot;), (ii) repay in full the outstanding borrowings under Delek Logistics&#39; term loan facility and (iii) pay accrued and unpaid interest, premiums, fees and expenses related to such repurchases, repayments and redemptions. Delek Logistics intends to use any remaining net proceeds for general corporate purposes, which may include the repayment of a portion of the outstanding borrowings under its revolving credit facility.

Reported Earlier, Delek Logistics Partners Prices Upsized Offering Of $650M 8.625% Senior Notes Due 2029

Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-27. Here's what investors need to know before the announcement.
Analysts estimate that Delek Logistics Partners will report an earnings per share (EPS) of $0.89. 
Delek Logistics Partners bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.01, which was followed by a 2.0% drop in the share price the next day.
Here's a look at Delek Logistics Partners's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.79</td>
<td>0.81</td>
<td>1.01</td>
<td>1.09</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.80</td>
<td>0.73</td>
<td>0.86</td>
<td>0.98</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>7.000000000000001%</td>
<td>-0.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708963327_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Delek Logistics Partners were trading at $46.19 as of February 23. Over the last 52-week period, shares are down 10.04%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/DKL/earnings">To track all earnings releases for Delek Logistics Partners visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Dividends

Adapting to Market Pressures: Delek Logistics Partners Supports Investors amidst Changing Profits

Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $1.055 per Common Limited Partner Unit

Today, November 13, 2023, marks an important moment for investors of Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>). The company will distribute a dividend payout of $1.04 per share, demonstrating an annualized dividend yield of 9.67%. Remember, only shareholders prior to the ex-dividend date on November 03, 2023 are eligible for this payout.
<h3>Delek Logistics Partners Recent Dividend Payouts</h3>
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 font-family: Arial, sans-serif;
 font-size: 14px;
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 th, td {
 padding: 8px;
 text-align: left;
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 th {
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 font-size: 12px;
 color: #6c757d;
 }
 </style><table>
<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2023-11-03</td>
<td style="text-align: right;">4</td>
<td>$1.04</td>
<td>9.67%</td>
<td>2023-10-25</td>
<td>2023-11-06</td>
<td>2023-11-13</td>
</tr>
<tr>
<td>2023-08-04</td>
<td style="text-align: right;">4</td>
<td>$1.03</td>
<td>8.92%</td>
<td>2023-07-26</td>
<td>2023-08-07</td>
<td>2023-08-14</td>
</tr>
<tr>
<td>2023-05-05</td>
<td style="text-align: right;">4</td>
<td>$1.02</td>
<td>8.53%</td>
<td>2023-04-28</td>
<td>2023-05-08</td>
<td>2023-05-15</td>
</tr>
<tr>
<td>2023-02-01</td>
<td style="text-align: right;">4</td>
<td>$1.02</td>
<td>8.81%</td>
<td>2023-01-23</td>
<td>2023-02-02</td>
<td>2023-02-09</td>
</tr>
<tr>
<td>2022-11-03</td>
<td style="text-align: right;">4</td>
<td>$0.99</td>
<td>7.62%</td>
<td>2022-10-25</td>
<td>2022-11-04</td>
<td>2022-11-10</td>
</tr>
<tr>
<td>2022-08-03</td>
<td style="text-align: right;">4</td>
<td>$0.98</td>
<td>8.35%</td>
<td>2022-07-25</td>
<td>2022-08-04</td>
<td>2022-08-11</td>
</tr>
<tr>
<td>2022-05-04</td>
<td style="text-align: right;">4</td>
<td>$0.98</td>
<td>7.34%</td>
<td>2022-04-25</td>
<td>2022-05-05</td>
<td>2022-05-12</td>
</tr>
<tr>
<td>2022-01-31</td>
<td style="text-align: right;">4</td>
<td>$0.97</td>
<td>9.05%</td>
<td>2022-01-21</td>
<td>2022-02-01</td>
<td>2022-02-08</td>
</tr>
<tr>
<td>2021-11-04</td>
<td style="text-align: right;">4</td>
<td>$0.95</td>
<td>7.6%</td>
<td>2021-10-26</td>
<td>2021-11-05</td>
<td>2021-11-10</td>
</tr>
<tr>
<td>2021-08-04</td>
<td style="text-align: right;">4</td>
<td>$0.94</td>
<td>9.24%</td>
<td>2021-07-26</td>
<td>2021-08-05</td>
<td>2021-08-11</td>
</tr>
<tr>
<td>2021-05-07</td>
<td style="text-align: right;">4</td>
<td>$0.92</td>
<td>8.93%</td>
<td>2021-04-30</td>
<td>2021-05-10</td>
<td>2021-05-14</td>
</tr>
<tr>
<td>2021-02-01</td>
<td style="text-align: right;">4</td>
<td>$0.91</td>
<td>9.53%</td>
<td>2021-01-25</td>
<td>2021-02-02</td>
<td>2021-02-09</td>
</tr>
</tbody>
</table>
When comparing Delek Logistics Partners's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer TORM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMD#NASDAQ">TRMD</a>) having the highest annualized dividend yield at 19.25%.
<h3>Analyzing Delek Logistics Partners Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1699887904_0.png" alt="dividend chart graph" />
From 2019 to 2022, the company's dividend per share showed a positive trend, increasing steadily from $3.36 in 2019 to $3.93 in 2022. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.
<h3>YoY Earnings Growth For Delek Logistics Partners</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1699887904_1.png" alt="earning chart graph" />
From 2019 to 2022, Delek Logistics Partners has demonstrated an upward trend in earnings, with earnings per share rising from $2.67 to $3.64. This positive earnings growth bodes well for investors looking to generate income through cash dividend payouts.
<h3>Recap</h3>
In this article, we delve into Delek Logistics Partners's recent dividend payout and examine how it impacts shareholders. The company has announced a dividend distribution of $1.04 per share today, resulting in an annualized dividend yield of 9.67%.
When comparing Delek Logistics Partners's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer TORM having the highest annualized dividend yield at 19.25%.
The increase in both dividend per share and earnings per share from 2019 to 2022 for Delek Logistics Partners indicates a positive financial trend, suggesting their capacity to continue distributing profits to shareholders.
To stay well-informed about potential changes in financials or dividend disbursements, investors should closely observe the company's performance in the upcoming quarters.
\To stay up-to-date with the companies that are announcing their dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

TRMD

Elevating Investor Returns: Delek Logistics Partners Delivers Strong Performance and Growing Profits

Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.79 by 1.27 percent. This is a 22.33 percent decrease over earnings of $1.03 per share from the same period last year. The company reported quarterly sales of $275.82 million which beat the analyst consensus estimate of $261.87 million by 5.33 percent. This is a 6.19 percent decrease over sales of $294.02 million the same period last year.

Delek Logistics Partners Q3 EPS $0.80 Beats $0.79 Estimate, Sales $275.82M Beat $261.87M Estimate

<h3>Upgrades</h3>
Wells Fargo upgraded the previous rating for TC Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) from Underweight to Equal-Weight. TC Energy earned $0.71 in the second quarter, compared to $0.78 in the year-ago quarter. At the moment, the stock has a 52-week-high of $49.54 and a 52-week-low of $33.02. TC Energy closed at $35.48 at the end of the last trading period. 
According to Canaccord Genuity, the prior rating for Gatos Silver Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>) was changed from Hold to Buy. For the second quarter, Gatos Silver had an EPS of $0.05, compared to year-ago quarter EPS of $0.08. The stock has a 52-week-high of $7.49 and a 52-week-low of $2.21. At the end of the last trading period, Gatos Silver closed at $4.65. 
B of A Securities upgraded the previous rating for Gilead Sciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) from Neutral to Buy. In the second quarter, Gilead Sciences showed an EPS of $1.34, compared to $1.58 from the year-ago quarter. The current stock performance of Gilead Sciences shows a 52-week-high of $89.61 and a 52-week-low of $61.45. Moreover, at the end of the last trading period, the closing price was at $73.94. 
According to Mizuho, the prior rating for Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) was changed from Neutral to Buy. For the second quarter, Adobe had an EPS of $3.91, compared to year-ago quarter EPS of $3.35. At the moment, the stock has a 52-week-high of $569.98 and a 52-week-low of $274.80. Adobe closed at $560.46 at the end of the last trading period. 
Bradesco Corretora upgraded the previous rating for Petroleo Brasileiro SA Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>) from Neutral to Outperform. In the second quarter, Petrobras Brasileiro showed an EPS of $0.90, compared to $1.68 from the year-ago quarter. The stock has a 52-week-high of $16.32 and a 52-week-low of $8.88. At the end of the last trading period, Petrobras Brasileiro closed at $14.56. 
Citigroup upgraded the previous rating for Delek Logistics Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) from Sell to Neutral. Delek Logistics Partners earned $0.73 in the second quarter, compared to $0.74 in the year-ago quarter. The current stock performance of Delek Logistics Partners shows a 52-week-high of $62.33 and a 52-week-low of $36.50. Moreover, at the end of the last trading period, the closing price was at $41.82. 
For First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Deutsche Bank upgraded the previous rating of Hold to Buy. First Solar earned $1.89 in the second quarter, compared to $0.52 in the year-ago quarter. The stock has a 52-week-high of $232.00 and a 52-week-low of $115.66. At the end of the last trading period, First Solar closed at $180.50. 
Mizuho upgraded the previous rating for Omega Healthcare Investors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>) from Neutral to Buy. Omega Healthcare Invts earned $0.74 in the second quarter, compared to $0.76 in the year-ago quarter. The current stock performance of Omega Healthcare Invts shows a 52-week-high of $33.15 and a 52-week-low of $25.61. Moreover, at the end of the last trading period, the closing price was at $31.67. 
According to SVB Leerink, the prior rating for Spruce Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRB#NASDAQ">SPRB</a>) was changed from Market Perform to Outperform. Spruce Biosciences earned $0.32 in the second quarter, compared to $0.51 in the year-ago quarter. The stock has a 52-week-high of $3.57 and a 52-week-low of $0.97. At the end of the last trading period, Spruce Biosciences closed at $2.23. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
B of A Securities downgraded the previous rating for DigitalOcean Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>) from Buy to Underperform. For the second quarter, DigitalOcean Holdings had an EPS of $0.44, compared to year-ago quarter EPS of $0.20. At the moment, the stock has a 52-week-high of $51.69 and a 52-week-low of $23.39. DigitalOcean Holdings closed at $26.58 at the end of the last trading period. 
B of A Securities downgraded the previous rating for Vir Biotechnology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIR#NASDAQ">VIR</a>) from Buy to Neutral. For the second quarter, Vir Biotechnology had an EPS of $1.45, compared to year-ago quarter EPS of $0.58. At the moment, the stock has a 52-week-high of $31.55 and a 52-week-low of $11.48. Vir Biotechnology closed at $11.56 at the end of the last trading period. 
According to Wolfe Research, the prior rating for Summit Materials Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) was changed from Outperform to Peer Perform. In the second quarter, Summit Materials showed an EPS of $0.71, compared to $0.59 from the year-ago quarter. The stock has a 52-week-high of $39.56 and a 52-week-low of $22.80. At the end of the last trading period, Summit Materials closed at $33.41. 
Deutsche Bank downgraded the previous rating for ABM Industries Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABM#NYSE">ABM</a>) from Buy to Hold. For the third quarter, ABM Indus had an EPS of $0.79, compared to year-ago quarter EPS of $0.94. The stock has a 52-week-high of $49.58 and a 52-week-low of $37.71. At the end of the last trading period, ABM Indus closed at $38.70. 
For Clarivate PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>), Barclays downgraded the previous rating of Equal-Weight to Underweight. In the second quarter, Clarivate showed an EPS of $0.21, compared to $0.22 from the year-ago quarter. At the moment, the stock has a 52-week-high of $12.45 and a 52-week-low of $6.41. Clarivate closed at $7.04 at the end of the last trading period. 
According to Citigroup, the prior rating for Essex Property Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) was changed from Buy to Neutral. Essex Property Trust earned $3.77 in the second quarter, compared to $3.68 in the year-ago quarter. At the moment, the stock has a 52-week-high of $280.38 and a 52-week-low of $195.03. Essex Property Trust closed at $231.24 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
Alliance Global Partners initiated coverage on Nano X Imaging Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNOX#NASDAQ">NNOX</a>) with a Buy rating. The price target for Nano X Imaging is set to $14.50. Nano X Imaging earned $0.18 in the second quarter, compared to $0.16 in the year-ago quarter. The stock has a 52-week-high of $22.69 and a 52-week-low of $5.31. At the end of the last trading period, Nano X Imaging closed at $7.66. 
With a Buy rating, Craig-Hallum initiated coverage on Sonos Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>). The price target seems to have been set at $20.00 for Sonos. Sonos earned $0.16 in the third quarter, compared to $0.19 in the year-ago quarter. The current stock performance of Sonos shows a 52-week-high of $21.98 and a 52-week-low of $13.12. Moreover, at the end of the last trading period, the closing price was at $13.22. 
For Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), William Blair initiated coverage, by setting the current rating at Market Perform. In the fourth quarter, Procter &amp; Gamble showed an EPS of $1.37, compared to $1.21 from the year-ago quarter. The current stock performance of Procter &amp; Gamble shows a 52-week-high of $158.38 and a 52-week-low of $122.19. Moreover, at the end of the last trading period, the closing price was at $153.59. 
With an Overweight rating, Cantor Fitzgerald initiated coverage on Atossa Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOS#NASDAQ">ATOS</a>). The price target seems to have been set at $5.00 for Atossa Therapeutics. Atossa Therapeutics earned $0.08 in the second quarter, compared to $0.05 in the year-ago quarter. The current stock performance of Atossa Therapeutics shows a 52-week-high of $1.39 and a 52-week-low of $0.50. Moreover, at the end of the last trading period, the closing price was at $0.74. 
Stifel initiated coverage on Asure Software Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASUR#NASDAQ">ASUR</a>) with a Buy rating. The price target for Asure Software is set to $15.00. Asure Software earned $0.11 in the second quarter, compared to $0.04 in the year-ago quarter. At the moment, the stock has a 52-week-high of $17.14 and a 52-week-low of $5.00. Asure Software closed at $11.65 at the end of the last trading period. 
RBC Capital initiated coverage on Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) with a Sector Perform rating. The price target for Lucid Gr is set to $6.00. For the second quarter, Lucid Gr had an EPS of $0.40, compared to year-ago quarter EPS of $0.33. At the moment, the stock has a 52-week-high of $17.81 and a 52-week-low of $5.46. Lucid Gr closed at $6.00 at the end of the last trading period. 
RBC Capital initiated coverage on EVgo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>) with a Sector Perform rating. The price target for EVgo is set to $5.00. EVgo earned $0.08 in the second quarter, compared to $0.06 in the year-ago quarter. The stock has a 52-week-high of $10.54 and a 52-week-low of $3.45. At the end of the last trading period, EVgo closed at $3.75. 
With an Outperform rating, RBC Capital initiated coverage on ChargePoint Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>). The price target seems to have been set at $9.00 for ChargePoint Hldgs. ChargePoint Hldgs earned $0.24 in the second quarter, compared to $0.18 in the year-ago quarter. The stock has a 52-week-high of $19.92 and a 52-week-low of $4.96. At the end of the last trading period, ChargePoint Hldgs closed at $6.29. 
Goldman Sachs initiated coverage on RenaissanceRe Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>) with a Buy rating. The price target for RenaissanceRe Holdings is set to $242.00. RenaissanceRe Holdings earned $8.79 in the second quarter, compared to $5.51 in the year-ago quarter. The current stock performance of RenaissanceRe Holdings shows a 52-week-high of $223.80 and a 52-week-low of $128.30. Moreover, at the end of the last trading period, the closing price was at $194.27. 
Goldman Sachs initiated coverage on Everest Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) with a Buy rating. The price target for Everest Group is set to $449.00. For the second quarter, Everest Group had an EPS of $15.21, compared to year-ago quarter EPS of $9.79. The current stock performance of Everest Group shows a 52-week-high of $385.00 and a 52-week-low of $343.36. Moreover, at the end of the last trading period, the closing price was at $367.22. 
Goldman Sachs initiated coverage on Axis Capital Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXS#NYSE">AXS</a>) with a Sell rating. The price target for Axis Capital Holdings is set to $51.00. For the second quarter, Axis Capital Holdings had an EPS of $2.23, compared to year-ago quarter EPS of $1.74. The current stock performance of Axis Capital Holdings shows a 52-week-high of $63.99 and a 52-week-low of $48.46. Moreover, at the end of the last trading period, the closing price was at $55.16. 
Goldman Sachs initiated coverage on Arch Capital Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>) with a Neutral rating. The price target for Arch Capital Group is set to $80.00. Arch Capital Group earned $1.92 in the second quarter, compared to $1.34 in the year-ago quarter. At the moment, the stock has a 52-week-high of $84.83 and a 52-week-low of $41.05. Arch Capital Group closed at $77.87 at the end of the last trading period. 
HC Wainwright &amp; Co. initiated coverage on ZyVersa Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVSA#NASDAQ">ZVSA</a>) with a Buy rating. The price target for ZyVersa Therapeutics is set to $2.50. ZyVersa Therapeutics earned $4.84 in the second quarter, compared to $0.10 in the year-ago quarter. The current stock performance of ZyVersa Therapeutics shows a 52-week-high of $24.29 and a 52-week-low of $0.11. Moreover, at the end of the last trading period, the closing price was at $0.12. 
With a Buy rating, DA Davidson initiated coverage on Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>). The price target seems to have been set at $200.00 for Snowflake. In the second quarter, Snowflake showed an EPS of $0.22, compared to $0.01 from the year-ago quarter. At the moment, the stock has a 52-week-high of $203.58 and a 52-week-low of $119.27. Snowflake closed at $159.84 at the end of the last trading period. 
Baird initiated coverage on Vaxxinity Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) with an Outperform rating. The price target for Vaxxinity is set to $7.00. In the second quarter, Vaxxinity showed an EPS of $0.11, compared to $0.14 from the year-ago quarter. The current stock performance of Vaxxinity shows a 52-week-high of $4.47 and a 52-week-low of $1.26. Moreover, at the end of the last trading period, the closing price was at $1.77. 
With an Overweight rating, Piper Sandler initiated coverage on Surf Air Mobility Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRFM#NYSE">SRFM</a>). The price target seems to have been set at $4.00 for Surf Air Mobility. In the second quarter, Surf Air Mobility showed an EPS of $3.14, compared to $1.40 from the year-ago quarter. The current stock performance of Surf Air Mobility shows a 52-week-high of $5.00 and a 52-week-low of $1.10. Moreover, at the end of the last trading period, the closing price was at $1.63. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

Downgrades

ACGL

ASUR

ATOS

CHPT

EVGO

FSLR

GATO

LCID

NNOX

SNOW

SONO

SRFM

VAXX

ZVSA

Benzinga's Top Ratings Upgrades, Downgrades For September 8, 2023

Citigroup analyst Spiro Dounis upgrades Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) from Sell to Neutral and lowers the price target from $47 to $45.

Citigroup Upgrades Delek Logistics Partners to Neutral, Lowers Price Target to $45

Avigal Soreq, President at Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>), reported a large insider buy on August 14, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0001552797/000155279723000075//Archives/edgar/data/1552797/000155279723000075/0001552797-23-000075-index.htm">U.S. Securities and Exchange Commission</a> on Monday showed that Soreq purchased 2,450 shares of Delek Logistics Partners. The total transaction amounted to $101,625. 
Delek Logistics Partners shares are trading down 0.37% at $42.57 at the time of this writing on Monday morning.
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<h3>The Importance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001552797">Check Out The Full List Of Delek Logistics Partners's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

President At This Energy Company Buys $101K of Stock

Delek Logistics Partners shares are trading lower after the company reported worse-than-expected Q2 financial results.

Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) reported quarterly earnings of $0.73 per share which missed the analyst consensus estimate of $0.81 by 9.88 percent. This is a 1.35 percent decrease over earnings of $0.74 per share from the same period last year. The company reported quarterly sales of $246.91 million which missed the analyst consensus estimate of $281.25 million by 12.21 percent. This is a 7.44 percent decrease over sales of $266.75 million the same period last year.

Delek Logistics Partners Q2 EPS $0.73 Misses $0.81 Estimate, Sales $246.91M Miss $281.25M Estimate

Delek Logistics Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKL#NYSE">DKL</a>) is set to give its latest quarterly earnings report on Monday, 2023-08-07. Here's what investors need to know before the announcement.
Analysts estimate that Delek Logistics Partners will report an earnings per share (EPS) of $0.81. 
Delek Logistics Partners bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.15, which was followed by a 0.11% drop in the share price the next day.
Here's a look at Delek Logistics Partners's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.01</td>
<td>1.09</td>
<td>1.21</td>
<td>1.02</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.86</td>
<td>0.98</td>
<td>1.03</td>
<td>0.74</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.11%</td>
<td>-1.01%</td>
<td>-1.72%</td>
<td>-0.24%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1691175687_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Delek Logistics Partners were trading at $43.475 as of August 03. Over the last 52-week period, shares are down 18.84%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/DKL/earnings">To track all earnings releases for Delek Logistics Partners visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.