Delek Logistics Partners (NYSE:DKL) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $49.50 and traded as high as $50.85. Delek Logistics Partners shares last traded at $49.4850, with a volume of 49,666 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial assumed coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price on the stock. Citigroup reiterated a “neutral” rating and set a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Mizuho increased their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $55.25.

Delek Logistics Partners Stock Down 2.2%

The business has a fifty day simple moving average of $51.05 and a two-hundred day simple moving average of $49.50. 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 company has a market cap of $2.63 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50.

Delek Logistics Partners (NYSE:DKL) last announced 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 analysts’ expectations of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. As a group, equities research analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $1.13 per share. The ex-dividend date was Monday, May 4th. This represents a $4.52 annualized dividend and a dividend yield of 9.1%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s payout ratio is presently 143.04%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DKL. BNP Paribas Financial Markets purchased a new position in shares of Delek Logistics Partners during the 2nd quarter worth $50,000. Jones Financial Companies Lllp raised 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 period. State of Wyoming purchased a new position in shares of Delek Logistics Partners during the 1st quarter worth $67,000. Osaic Holdings Inc. raised its holdings in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 1,910 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Delek Logistics Partners by 1,186.5% during the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after acquiring an additional 3,868 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.