Delek Logistics Partners (NYSE:DKL) Reaches New 12-Month High – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $59.00 and last traded at $59.2150, with a volume of 20897 shares trading hands. The stock had previously closed at $57.70.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DKL shares. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Mizuho boosted their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a research note on Thursday, April 30th. UBS Group began coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target on the stock. Finally, Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.40.

Delek Logistics Partners Trading Up 1.8%

The company has a market cap of $3.12 billion, a P/E ratio of 18.74, a PEG ratio of 0.62 and a beta of 0.47. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The business has a 50 day moving average price of $52.60 and a 200-day moving average price of $51.77.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.20). The firm had revenue of $297.47 million during the quarter, compared to the consensus estimate of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Analysts forecast that Delek Logistics Partners, L.P. will post 4.12 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a $1.135 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is 143.04%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently modified their holdings of DKL. BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners in the 2nd quarter valued at about $50,000. Jones Financial Companies Lllp increased its holdings in shares of 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 worth $52,000 after acquiring an additional 910 shares during the last quarter. State of Wyoming bought a new stake in Delek Logistics Partners in the 1st quarter valued at $67,000. Osaic Holdings Inc. raised its position in shares of Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after purchasing an additional 1,910 shares during the period. Finally, Avior Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the second quarter worth $206,000. 11.75% of the stock is owned by institutional investors.

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.