Delek Logistics Partners (NYSE:DKL) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.44 and traded as high as $51.89. Delek Logistics Partners shares last traded at $51.6920, with a volume of 41,667 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DKL shares. Mizuho raised their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Truist Financial initiated coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target on the stock. Raymond James Financial restated an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research raised Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus target price of $55.25.

Delek Logistics Partners Price Performance

The company’s fifty day moving average price is $51.12 and its two-hundred day moving average price is $50.44. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.60 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS 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 the consensus estimate of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. On average, equities research analysts forecast that Delek Logistics Partners, L.P. will post 3.86 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a dividend of $1.13 per share. The ex-dividend date was Monday, May 4th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 dividend on an annualized basis and a yield of 8.7%. Delek Logistics Partners’s dividend payout ratio is presently 143.04%.

Institutional Trading of Delek Logistics Partners

Several institutional investors and hedge funds have recently bought and sold shares of DKL. GSA Capital Partners LLP acquired a new stake in shares of Delek Logistics Partners during the 4th quarter worth about $1,054,000. JPMorgan Chase & Co. grew its stake in Delek Logistics Partners by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after buying an additional 99,500 shares during the last quarter. PFG Investments LLC raised its holdings in Delek Logistics Partners by 50.9% in the 4th quarter. PFG Investments LLC now owns 33,650 shares of the oil and gas producer’s stock valued at $1,501,000 after acquiring an additional 11,350 shares during the period. Alps Advisors Inc. raised its holdings in Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after acquiring an additional 165,741 shares during the period. Finally, Independent Advisor Alliance lifted its position in Delek Logistics Partners by 119.3% during the fourth quarter. Independent Advisor Alliance now owns 12,453 shares of the oil and gas producer’s stock worth $556,000 after acquiring an additional 6,774 shares during the last quarter. 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.