Delek Logistics Partners (NYSE:DKL) Sets New 1-Year High – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $55.89 and last traded at $55.4450, with a volume of 19173 shares changing hands. The stock had previously closed at $55.31.

Wall Street Analyst Weigh In

DKL has been the topic of a number of analyst reports. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Truist Financial began coverage on Delek Logistics Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target for the company. Mizuho raised 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. Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, UBS Group began coverage on Delek Logistics Partners in a research report on Thursday. They issued a “neutral” rating and a $56.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.40.

Delek Logistics Partners Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The company has a 50 day simple moving average of $51.80 and a 200-day simple moving average of $51.17. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 0.65 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.20). Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%.The firm had revenue of $297.47 million during the quarter, compared to analyst estimates of $239.87 million. As a group, research analysts anticipate that Delek Logistics Partners, L.P. will post 3.86 EPS 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 paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 8.0%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Monday, May 4th. Delek Logistics Partners’s dividend payout ratio (DPR) is 143.04%.

Institutional Trading of Delek Logistics Partners

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of Delek Logistics Partners in the 4th quarter worth about $1,054,000. JPMorgan Chase & Co. grew its position 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 buying an additional 99,500 shares during the last quarter. PFG Investments LLC grew its position 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 buying an additional 11,350 shares during the last quarter. Alps Advisors Inc. raised its stake in Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after acquiring an additional 165,741 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners during the second quarter worth about $50,000. Institutional investors 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.