Delek Logistics Partners (NYSE:DKL) Reaches New 52-Week High – Should You Buy?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $48.38 and last traded at $48.26, with a volume of 29164 shares changing hands. The stock had previously closed at $47.20.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus target price of $45.50.

Delek Logistics Partners Trading Up 2.6%

The firm’s 50 day moving average is $45.43 and its 200 day moving average is $44.67. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The company has a market cap of $2.59 billion, a PE ratio of 15.65, a PEG ratio of 0.42 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.26). The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. On average, equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Friday, November 7th were paid a $1.12 dividend. The ex-dividend date was Friday, November 7th. This represents a $4.48 dividend on an annualized basis and a yield of 9.3%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is currently 144.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sharpepoint LLC raised its stake in Delek Logistics Partners by 1.4% in the third quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer’s stock valued at $1,725,000 after purchasing an additional 506 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Delek Logistics Partners by 3.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 18,819 shares of the oil and gas producer’s stock worth $857,000 after buying an additional 588 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Delek Logistics Partners by 4.7% in the 3rd quarter. Focus Financial Network Inc. now owns 13,757 shares of the oil and gas producer’s stock worth $626,000 after buying an additional 616 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after buying an additional 910 shares in the last quarter. Finally, Plan Group Financial LLC raised its position in shares of Delek Logistics Partners by 6.6% during the 3rd quarter. Plan Group Financial LLC now owns 16,250 shares of the oil and gas producer’s stock valued at $740,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.