Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.20 and traded as low as $49.02. Delek Logistics Partners shares last traded at $49.8040, with a volume of 141,823 shares traded.

Analysts Set New Price Targets

DKL has been the subject of several recent analyst reports. Truist Financial started 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. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a report on Thursday, April 30th. Weiss Ratings cut shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Mizuho raised their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.25.

Delek Logistics Partners Trading Down 1.2%

The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.59 and a beta of 0.47. The business’s 50-day simple moving average is $50.93 and its two-hundred day simple moving average is $50.20. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The firm had revenue of $297.47 million during the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Equities analysts forecast that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.13 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 9.1%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s payout ratio is currently 143.04%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Delek Logistics Partners by 24.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after acquiring an additional 298,867 shares during the last quarter. Alps Advisors Inc. boosted its stake in Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after purchasing an additional 165,741 shares during the period. JPMorgan Chase & Co. boosted its stake in Delek Logistics Partners by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after purchasing an additional 99,500 shares during the period. HRT Financial LP boosted its stake in Delek Logistics Partners by 278.3% during the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after purchasing an additional 54,959 shares during the period. Finally, Raymond James Financial Inc. grew its position in Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after purchasing an additional 48,284 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other 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.