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Stock Market & Financial Investment News

News Breaks
August 20, 2014
05:22 EDTDKLDelek Logistics upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Delek Logistics to Outperform citing an increased distribution growth profile. Wells raised its price target range for shares to $45-$47 from $34-$38.
News For DKL From The Last 14 Days
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October 1, 2014
17:51 EDTDKLDelek Logistics announces purchase of third party logistic assets for $10M
Delek Logistics Partners announced that one of its subsidiaries has purchased a set of logistics assets from an affiliate of Magellan Midstream Partners for $10.0M in cash. These assets include a light products terminal in Mount Pleasant, Texas, a light products storage facility in Greenville, Texas and a pipeline connecting the locations. The transaction, which closed on October 1, was financed by cash on hand and borrowings under Delek Logistics’ revolving credit facility. The Mount Pleasant terminal consists of approximately 180K barrels of light product storage capacity, three truck loading lanes and ethanol blending capability. The Greenville facility has approximately 325K barrels of storage capacity and is connected to the Mount Pleasant terminal by a 76 mile pipeline. By the end of 2015, these assets are expected to achieve annualized earnings before interest, taxes, depreciation and amortization of approximately $1.4M.

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