Delek Logistics Partners LP (DKL) Sees Unusually-High Trading Volume
Delek Logistics Partners LP (NYSE:DKL) shares saw an uptick in trading volume on Wednesday . 103,971 shares changed hands during mid-day trading, an increase of 46% from the previous session’s volume of 71,393 shares.The stock last traded at $25.90 and had previously closed at $25.74.
Several research firms have weighed in on DKL. Zacks Investment Research raised Delek Logistics Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Delek Logistics Partners in a research report on Thursday, July 7th. Simmons reaffirmed a “hold” rating and issued a $31.00 target price (down from $33.00) on shares of Delek Logistics Partners in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, June 21st. Finally, Piper Jaffray Cos. downgraded Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a research report on Monday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.25.
The company has a market capitalization of $622.92 million and a price-to-earnings ratio of 10.23. The company has a 50-day moving average price of $26.14 and a 200 day moving average price of $27.84.
Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.04. The firm earned $104.40 million during the quarter, compared to the consensus estimate of $122.18 million. Delek Logistics Partners’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. On average, analysts predict that Delek Logistics Partners LP will post $2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, August 5th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 9.82%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.61.
An institutional investor recently raised its position in Delek Logistics Partners stock. BNP Paribas Arbitrage SA boosted its position in Delek Logistics Partners LP (NYSE:DKL) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,510 shares of the company’s stock after buying an additional 1,478 shares during the period. BNP Paribas Arbitrage SA owned 0.62% of Delek Logistics Partners worth $5,372,000 as of its most recent filing with the SEC.
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.
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