Delek Logistics Partners LP (DKL) Trading 4.7% Higher
Delek Logistics Partners LP (NYSE:DKL) traded up 4.7% during trading 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 equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Delek Logistics Partners from a “sell” rating to a “hold” rating in a 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 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 report on Tuesday, June 21st. Piper Jaffray Cos. cut shares of Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a report on Monday, May 9th. Finally, 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 report on Tuesday, June 21st. Five equities research 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 an average target price of $34.25.
The stock has a 50-day moving average of $26.11 and a 200-day moving average of $27.87. The stock has a market capitalization of $655.18 million and a PE ratio of 10.94.
Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.08. Equities analysts predict that Delek Logistics Partners LP will post $2.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, August 5th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.61. This represents a $2.52 annualized dividend and a dividend yield of 9.46%.
An institutional investor recently raised its position in Delek Logistics Partners stock. BNP Paribas Arbitrage SA boosted its stake in shares of Delek Logistics Partners LP (NYSE:DKL) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.
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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