Delek Logistics Partners (NYSE:DKL) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research lowered shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks reports.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Citigroup raised their target price on Delek Logistics Partners from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, UBS Group lifted their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of “Hold” and a consensus price target of $56.40.

Delek Logistics Partners Stock Down 0.5%

DKL stock opened at $53.71 on Wednesday. The company has a market capitalization of $3.07 billion, a P/E ratio of 18.71 and a beta of 0.43. Delek Logistics Partners has a 12 month low of $43.12 and a 12 month high of $61.50. The firm’s fifty day simple moving average is $55.47 and its 200-day simple moving average is $53.51. The company has a debt-to-equity ratio of 15.37, a current ratio of 0.85 and a quick ratio of 0.91.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Friday, November 6th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.12). The business had revenue of $372.44 million for the quarter, compared to analyst estimates of $355.44 million. Delek Logistics Partners had a net margin of 11.90% and a return on equity of 1,108.40%. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd were given a dividend of $1.14 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.1350. This represents a $4.56 annualized dividend and a yield of 8.5%. The ex-dividend date was Tuesday, November 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is 158.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of Delek Logistics Partners by 28.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer’s stock worth $299,831,000 after acquiring an additional 1,250,721 shares in the last quarter. NEOS Investment Management LLC increased its stake in shares of Delek Logistics Partners by 56.0% in the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after purchasing an additional 62,267 shares in the last quarter. Infrastructure Capital Advisors LLC raised its holdings in Delek Logistics Partners by 2.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after purchasing an additional 3,596 shares during the period. Adams Asset Advisors LLC raised its holdings in Delek Logistics Partners by 5.2% in the 3rd quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock worth $3,936,000 after purchasing an additional 3,675 shares during the period. Finally, Pinnacle Holdings LLC acquired a new position in Delek Logistics Partners in the 2nd quarter worth about $1,703,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.