Pipeline co Delek Logistics tumbles on $175 mln equity offering launch

Delek US Holdings

12/08/2026 21:47

** Shares of Delek Logistics Partners DKL.N down 13.3% to $52 post-market on planned equity raise news
** Tennessee-based midstream master limited partnership (MLP) launches $175 mln common units offering
** Co intends to use net offering proceeds to repay its revolver, and for general partnership purposes
** Truist, Mizuho and Raymond James joint bookrunners
** Its parent, oil refiner Delek US Holdings DK.N, has 63% limited partnership interest in DKL, per the prospectus
** The MLP has ~53.2 mln common units outstanding for $3.2 bln market cap
** DKL shares finished up 2.5% at $60 on Weds, up 34% YTD
** Avg rating of 5 analysts is "hold"; median PT $56, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))