Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.87 and traded as high as $47.98. Delek Logistics Partners shares last traded at $47.7620, with a volume of 77,441 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.50.

Delek Logistics Partners Trading Up 0.0%

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.42 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 business has a 50-day moving average of $45.78 and a 200-day moving average of $44.87.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.26). The company had revenue of $261.28 million for the quarter, compared to analyst estimates of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. Research analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Friday, November 7th were paid a $1.12 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.48 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend was Friday, November 7th. Delek Logistics Partners’s dividend payout ratio (DPR) is 144.98%.

Institutional Trading of Delek Logistics Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 910 shares during the period. Novem Group raised its holdings in shares of Delek Logistics Partners by 9.8% in the 2nd quarter. Novem Group now owns 22,719 shares of the oil and gas producer’s stock valued at $976,000 after purchasing an additional 2,019 shares during the period. GraniteShares Advisors LLC lifted its stake in Delek Logistics Partners by 6.7% in the 2nd quarter. GraniteShares Advisors LLC now owns 66,527 shares of the oil and gas producer’s stock valued at $2,857,000 after purchasing an additional 4,158 shares during the last quarter. PFG Investments LLC bought a new position in Delek Logistics Partners during the second quarter worth about $795,000. Finally, Abel Hall LLC acquired a new position in Delek Logistics Partners during the second quarter worth approximately $430,000. 11.75% of the stock is owned by 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.