Delek Logistics Partners (NYSE:DKL) Reaches New 52-Week High – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.23 and last traded at $48.84, with a volume of 29630 shares trading hands. The stock had previously closed at $48.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Delek Logistics Partners has a consensus rating of “Hold” and a consensus price target of $45.50.

Delek Logistics Partners Stock Performance

The stock has a market cap of $2.61 billion, a PE ratio of 15.81, a P/E/G ratio of 0.44 and a beta of 0.47. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $46.03 and a 200-day simple moving average of $44.99.

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

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Delek Logistics Partners in the second quarter worth $50,000. Jones Financial Companies Lllp increased its holdings in Delek Logistics Partners by 303.3% in 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 in the last quarter. Farther Finance Advisors LLC raised its position in Delek Logistics Partners by 92.8% in the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 1,100 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Delek Logistics Partners by 1,186.5% during the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares in the last quarter. 11.75% of the stock is currently 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.