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

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $49.50 and traded as high as $50.85. Delek Logistics Partners shares last traded at $49.4850, with a volume of 49,666 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DKL shares. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Citigroup reiterated a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price target for the company. Finally, Mizuho lifted their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.25.

Delek Logistics Partners Price Performance

The company’s 50 day moving average price is $51.05 and its 200-day moving average price is $49.50. The company has a market capitalization of $2.63 billion, a PE ratio of 15.66, a PEG ratio of 0.58 and a beta of 0.50. 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 (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). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The company had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. On average, sell-side analysts forecast that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 annualized dividend and a dividend yield of 9.1%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio is presently 143.04%.

Institutional Trading of Delek Logistics Partners

Several institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after acquiring an additional 165,741 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Delek Logistics Partners by 4.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock worth $72,176,000 after purchasing an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock worth $19,269,000 after purchasing an additional 4,879 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Delek Logistics Partners by 11.2% in the 3rd quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after purchasing an additional 23,054 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC increased its position in shares of Delek Logistics Partners by 2.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after purchasing an additional 3,596 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.