Delek Logistics Partners, L.P. (NYSE:DKL) Given Average Rating of “Hold” by Brokerages

Delek Logistics Partners, L.P. (NYSE:DKL) has received an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.25.

Several analysts have recently issued reports on the company. Mizuho increased their price objective on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Citigroup restated a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Truist Financial began coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target on the stock. Finally, Weiss Ratings cut Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th.

Institutional Trading of Delek Logistics Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Delek Logistics Partners by 24.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after buying an additional 298,867 shares in the last quarter. Alps Advisors Inc. raised its stake in Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Delek Logistics Partners by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after buying an additional 99,500 shares in the last quarter. HRT Financial LP raised its stake in Delek Logistics Partners by 278.3% in the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after buying an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Delek Logistics Partners by 30.8% in the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after buying an additional 48,284 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Down 1.6%

Shares of NYSE DKL opened at $52.92 on Friday. The stock has a market cap of $2.81 billion, a P/E ratio of 16.75, a PEG ratio of 0.62 and a beta of 0.47. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 12-month low of $41.72 and a 12-month high of $55.89. The business’s fifty day simple moving average is $50.96 and its 200-day simple moving average is $50.00.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.20). The company had revenue of $297.47 million during the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. As a group, equities analysts predict that Delek Logistics Partners will post 3.86 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.13 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.52 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date was Monday, May 4th. Delek Logistics Partners’s payout ratio is 143.04%.

Delek Logistics Partners Company Profile

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.