Delek Logistics Partners (NYSE:DKL) Reaches New 52-Week High – Still a Buy?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price reached a new 52-week high on Wednesday . The company traded as high as $51.85 and last traded at $51.5890, with a volume of 83577 shares changing hands. The stock had previously closed at $50.17.

Analyst Ratings Changes

Several research firms have issued reports on DKL. Zacks Research downgraded Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

Delek Logistics Partners Price Performance

The stock has a market capitalization of $2.81 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. The business’s 50-day moving average price is $46.93 and its 200 day moving average price is $45.34. The company has a debt-to-equity ratio of 130.97, a quick ratio of 0.98 and a current ratio of 1.03.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.26). The business had revenue of $261.28 million for the quarter, compared to the consensus estimate of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. Research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th will be issued a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, February 5th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 8.6%. Delek Logistics Partners’s payout ratio is presently 144.98%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of DKL. Westwood Holdings Group Inc. increased its holdings in shares of Delek Logistics Partners by 5.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 231,169 shares of the oil and gas producer’s stock worth $9,929,000 after buying an additional 12,266 shares during the last quarter. ELCO Management Co. LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter worth $494,000. TT Capital Management LLC purchased a new position in Delek Logistics Partners in the second quarter worth $1,270,000. JPMorgan Chase & Co. grew its position in Delek Logistics Partners by 16.4% in the second quarter. JPMorgan Chase & Co. now owns 327,466 shares of the oil and gas producer’s stock worth $14,065,000 after acquiring an additional 46,069 shares in the last quarter. Finally, Castellan Group increased its stake in Delek Logistics Partners by 8.1% in the second quarter. Castellan Group now owns 75,954 shares of the oil and gas producer’s stock valued at $3,262,000 after acquiring an additional 5,668 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.