Delek Logistics Partners (NYSE:DKL) Sees Unusually-High Trading Volume – Still a Buy?

Delek Logistics Partners, L.P. (NYSE:DKL) saw unusually-strong trading volume on Friday . Approximately 187,618 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 85,173 shares.The stock last traded at $53.3290 and had previously closed at $52.30.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DKL shares. UBS Group started coverage on shares of Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target on the stock. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research upgraded shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Mizuho raised their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.

Delek Logistics Partners Stock Up 2.0%

The business’s 50 day moving average is $54.24 and its 200 day moving average is $52.63. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The company has a market cap of $2.84 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.68 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. As a group, equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.135 per share. This represents a $4.54 annualized dividend and a dividend yield of 8.5%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is currently 158.19%.

Institutional Trading of Delek Logistics Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares during the last quarter. Jump Financial LLC acquired a new position in Delek Logistics Partners in the 2nd quarter worth approximately $207,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Delek Logistics Partners by 24.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after buying an additional 298,867 shares during the period. Raymond James Financial Inc. raised its position in Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after buying an additional 48,284 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 3,868 shares during the last quarter. Institutional investors and hedge funds 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.