Delek Logistics Partners (NYSE:DKL) Hits New 52-Week High – Here’s What Happened

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) hit a new 52-week high during trading on Tuesday . The company traded as high as $53.68 and last traded at $53.0450, with a volume of 66987 shares trading hands. The stock had previously closed at $52.59.

Wall Street Analyst Weigh In

DKL has been the topic of a number of analyst reports. Zacks Research cut shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings upgraded Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.00.

Delek Logistics Partners Stock Up 0.9%

The company’s 50 day simple moving average is $47.20 and its 200-day simple moving average is $45.48. The company has a debt-to-equity ratio of 130.97, a quick ratio of 0.98 and a current ratio of 1.03. The firm has a market capitalization of $2.84 billion, a PE ratio of 17.17, a PEG ratio of 0.48 and a beta of 0.51.

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

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be paid a $1.125 dividend. The ex-dividend date is Thursday, February 5th. This represents a $4.50 dividend on an annualized basis and a yield of 8.5%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is currently 145.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. increased its position in shares of Delek Logistics Partners by 2.5% in the third quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock worth $196,887,000 after purchasing an additional 104,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Delek Logistics Partners by 4.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock worth $72,176,000 after buying an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. raised 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 in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Delek Logistics Partners by 5.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 231,169 shares of the oil and gas producer’s stock valued at $9,929,000 after buying an additional 12,266 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Delek Logistics Partners by 11.2% during the 3rd quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after acquiring an additional 23,054 shares during the last quarter. Hedge funds and other 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.