Delek Logistics Partners, L.P. (NYSE:DKL) Given Consensus Rating of “Hold” by Analysts

Delek Logistics Partners, L.P. (NYSE:DKL) has been assigned an average rating of “Hold” from the six research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $55.25.

A number of research firms have issued reports on DKL. Raymond James Financial restated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Zacks Research raised shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. 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 target price for the company. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Finally, Mizuho upped their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $55.52 on Thursday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 17.57, a PEG ratio of 0.64 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. Delek Logistics Partners has a one year low of $41.72 and a one year high of $55.89. The business has a fifty day moving average of $51.69 and a 200 day moving average of $51.09.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results 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 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%. As a group, sell-side analysts anticipate that Delek Logistics Partners will post 3.86 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.13 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Monday, May 4th. This represents a $4.52 annualized dividend and a dividend yield of 8.1%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 143.04%.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently bought and sold shares of DKL. Jones Financial Companies Lllp grew its holdings in Delek Logistics Partners by 303.3% during the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares during the period. Jump Financial LLC bought a new position in shares of Delek Logistics Partners in the second quarter worth about $207,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Delek Logistics Partners by 24.4% in 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 buying an additional 298,867 shares during the period. Raymond James Financial Inc. lifted its position in shares of 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 valued at $8,806,000 after buying an additional 48,284 shares in the last quarter. Finally, Bank of America Corp DE lifted its position 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 valued at $180,000 after buying an additional 3,868 shares in the last quarter. 11.75% of the stock is currently 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.