Delek Logistics Partners LP (DKL) Shares Up 4.7%
Shares of Delek Logistics Partners LP (NYSE:DKL) shot up 4.7% on Monday . The company traded as high as $26.52 and last traded at $26.52, with a volume of 99,009 shares trading hands. The stock had previously closed at $25.33.
A number of brokerages have recently commented on DKL. Zacks Investment Research upgraded shares of Delek Logistics Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Barclays PLC reiterated an “equal weight” rating and set a $32.00 price target on shares of Delek Logistics Partners in a report on Thursday, July 7th. Simmons reiterated a “hold” rating and set a $31.00 price target (down previously from $33.00) on shares of Delek Logistics Partners in a report on Tuesday, June 21st. Goldman Sachs Group Inc. raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, June 21st. Finally, Piper Jaffray Cos. downgraded shares of Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a research note on Monday, May 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Delek Logistics Partners currently has a consensus rating of “Hold” and a consensus price target of $34.25.
The firm’s 50 day moving average is $26.09 and its 200-day moving average is $27.81. The company has a market capitalization of $636.27 million and a PE ratio of 10.45.
Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. On average, analysts predict that Delek Logistics Partners LP will post $2.32 EPS for the current year.
The business also recently declared 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 9.61%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, August 3rd.
An institutional investor recently raised its position in Delek Logistics Partners stock. BNP Paribas Arbitrage SA increased its position in Delek Logistics Partners LP (NYSE:DKL) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.62% of Delek Logistics Partners worth $5,372,000 at the end of the most recent quarter.
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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