Delek Logistics Partners, L.P. (NYSE:DKL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been given a consensus recommendation of “Hold” by the six analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $52.25.

DKL has been the subject of a number of research analyst reports. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price objective for the company. Zacks Research lowered shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Raymond James Financial restated an “outperform” rating and set a $55.00 price target on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, Citigroup reiterated a “neutral” rating and issued a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DKL. Motiv8 Investments LLC purchased a new position in Delek Logistics Partners in the 4th quarter valued at $192,000. Van ECK Associates Corp raised its position in shares of Delek Logistics Partners by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 258 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Delek Logistics Partners by 31.7% in the fourth quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer’s stock valued at $603,000 after buying an additional 3,257 shares during the last quarter. American Financial Group Inc. lifted its stake in shares of 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 worth $759,000 after buying an additional 500 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after acquiring an additional 165,741 shares during the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Stock Down 0.2%

Shares of DKL opened at $50.20 on Tuesday. The firm has a market cap of $2.68 billion, a P/E ratio of 15.26, a PEG ratio of 0.55 and a beta of 0.54. Delek Logistics Partners has a 12 month low of $34.59 and a 12 month high of $55.89. The stock’s 50 day moving average is $52.58 and its two-hundred day moving average is $47.95. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The business had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. Analysts predict that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were paid a $1.125 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend was Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio is presently 136.78%.

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.