Delek Logistics Partners (NYSE:DKL) Sees Strong Trading Volume

Shares of Delek Logistics Partners, LP (NYSE:DKL) saw strong trading volume on Tuesday . 48,055 shares changed hands during mid-day trading, a decline of 30% from the previous session’s volume of 68,236 shares.The stock last traded at $41.02 and had previously closed at $40.84.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Tuesday, March 19th.

Delek Logistics Partners Trading Down 0.0 %

The firm has a market capitalization of $1.79 billion, a P/E ratio of 14.12 and a beta of 2.08. The business’s fifty day moving average is $43.67 and its 200 day moving average is $44.63.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The company had revenue of $254.15 million during the quarter, compared to analyst estimates of $272.51 million. As a group, sell-side analysts predict that Delek Logistics Partners, LP will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, March 1st were given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 29th. Delek Logistics Partners’s payout ratio is 145.52%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its stake in Delek Logistics Partners by 0.8% in the first quarter. LPL Financial LLC now owns 28,885 shares of the oil and gas producer’s stock valued at $1,370,000 after purchasing an additional 239 shares in the last quarter. Wells Fargo & Company MN raised its position in Delek Logistics Partners by 0.8% during the second quarter. Wells Fargo & Company MN now owns 33,424 shares of the oil and gas producer’s stock valued at $1,825,000 after acquiring an additional 256 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Delek Logistics Partners by 2.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 23,671 shares of the oil and gas producer’s stock valued at $1,071,000 after acquiring an additional 468 shares during the last quarter. Vident Investment Advisory LLC grew its position in Delek Logistics Partners by 7.6% in the first quarter. Vident Investment Advisory LLC now owns 7,088 shares of the oil and gas producer’s stock worth $312,000 after acquiring an additional 499 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Delek Logistics Partners by 6.7% during the 1st quarter. Royal Bank of Canada now owns 8,000 shares of the oil and gas producer’s stock worth $352,000 after purchasing an additional 500 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.