Delek Logistics Partners (NYSE:DKL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $49.07 and traded as high as $52.37. Delek Logistics Partners shares last traded at $51.2130, with a volume of 78,857 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on DKL. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research lowered Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Raymond James Financial reiterated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Truist Financial started coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price on the stock. Finally, Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus target price of $55.25.

Delek Logistics Partners Stock Performance

The company has a 50 day moving average price of $51.36 and a 200-day moving average price of $49.07. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The company has a market cap of $2.72 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50.

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

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $1.13 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 annualized dividend and a dividend yield of 8.8%. Delek Logistics Partners’s dividend payout ratio (DPR) is 143.04%.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds have recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in shares of Delek Logistics Partners by 2.5% during the 3rd quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock valued at $196,887,000 after acquiring an additional 104,115 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Delek Logistics Partners by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after acquiring an additional 99,500 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of Delek Logistics Partners by 50.9% during the 4th quarter. PFG Investments LLC now owns 33,650 shares of the oil and gas producer’s stock valued at $1,501,000 after acquiring an additional 11,350 shares in the last quarter. Sharpepoint LLC boosted its holdings in shares of Delek Logistics Partners by 4.2% during the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after acquiring an additional 1,575 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Delek Logistics Partners during the 4th quarter worth $1,054,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.