Delek Logistics Partners, L.P. (NYSE:DKL) Given Average Rating of “Hold” by Brokerages

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $55.40.

DKL has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. 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. Finally, UBS Group began coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 target price on the stock.

Insider Transactions at Delek Logistics Partners

In related news, EVP Robert G. Wright purchased 1,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $75,000.00. Following the purchase, the executive vice president owned 7,994 shares of the company’s stock, valued at $399,700. This trade represents a 23.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Wayne Hobbs acquired 4,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $50.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the executive vice president directly owned 24,125 shares of the company’s stock, valued at approximately $1,206,250. This trade represents a 19.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 15,000 shares of company stock worth $750,000 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in Delek Logistics Partners by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after purchasing an additional 258 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Delek Logistics Partners by 2.2% during the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after purchasing an additional 300 shares during the period. American Financial Group Inc. boosted its position in Delek Logistics Partners by 3.0% in the fourth quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock valued at $759,000 after buying an additional 500 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after buying an additional 910 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Delek Logistics Partners by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer’s stock worth $616,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Price Performance

Shares of DKL stock opened at $54.81 on Friday. The stock’s 50-day moving average is $54.75 and its 200 day moving average is $52.85. Delek Logistics Partners has a 1-year low of $42.35 and a 1-year high of $61.50. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $3.14 billion, a P/E ratio of 19.10 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The firm had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. Research analysts predict that Delek Logistics Partners 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 8.3%. 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%.

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.