Truist Financial Issues Positive Forecast for Delek Logistics Partners (NYSE:DKL) Stock Price

Delek Logistics Partners (NYSE:DKL) had its price objective boosted by Truist Financial from $46.00 to $50.00 in a research note published on Monday,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Several other equities analysts have also recently issued reports on DKL. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Bank of America started coverage on Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Performance

Shares of NYSE:DKL opened at $38.96 on Monday. The company has a market capitalization of $2.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $53.80. The company has a fifty day moving average of $40.78 and a 200-day moving average of $40.21.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. During the same period in the previous year, the business posted $0.80 earnings per share. On average, equities analysts forecast that Delek Logistics Partners will post 3.08 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a dividend yield of 11.29%. Delek Logistics Partners’s dividend payout ratio is 156.03%.

Insider Buying and Selling

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 710 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $38.72 per share, with a total value of $27,491.20. Following the completion of the purchase, the chairman now owns 54,851 shares in the company, valued at $2,123,830.72. This represents a 1.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Avigal Soreq purchased 2,563 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the acquisition, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. This represents a 5.80 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 11,644 shares of company stock valued at $453,840 over the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new stake in Delek Logistics Partners during the first quarter worth $12,656,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock worth $563,000 after purchasing an additional 3,215 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Delek Logistics Partners during the second quarter worth $203,000. IFG Advisory LLC purchased a new stake in Delek Logistics Partners during the 2nd quarter worth about $640,000. Finally, Van ECK Associates Corp boosted its position in shares of Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after acquiring an additional 1,437 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.