Delek Logistics Partners, L.P. (DKL) - What Are Investment Firms Thinking About This Stock?

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) has earned a consensus rating of "Hold" from the seven ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $55.60.

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on Delek Logistics Partners from $55.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, September 21st. Zacks Research downgraded Delek Logistics Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings raised Delek Logistics Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 2nd.

Insiders Place Their Bets

In other news, EVP Mark Hobbs purchased 4,000 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was acquired at an average price of $50.00 per share, for a total transaction of $200,000.00. Following the acquisition, the executive vice president directly owned 24,125 shares of the company's stock, valued at approximately $1,206,250. This represents a 19.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Reuven Spiegel purchased 1,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the executive vice president owned 29,549 shares in the company, valued at approximately $1,477,450. This trade represents a 3.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 15,000 shares of company stock worth $750,000. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Delek Logistics Partners

A number of large investors have recently modified their holdings of DKL. Adams Asset Advisors LLC boosted its stake in shares of Delek Logistics Partners by 5.2% in the 3rd quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer's stock valued at $3,936,000 after buying an additional 3,675 shares during the period. Tidal Investments LLC grew its position in shares of Delek Logistics Partners by 60.9% during the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer's stock worth $379,000 after acquiring an additional 2,786 shares during the last quarter. NEOS Investment Management LLC raised its holdings in shares of Delek Logistics Partners by 56.0% in the second quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer's stock valued at $8,935,000 after buying an additional 62,267 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in Delek Logistics Partners during the 2nd quarter worth approximately $1,703,000. Finally, Focus Financial Network Inc. raised its position in Delek Logistics Partners by 2.2% during the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer's stock worth $707,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Stock Performance

DKL traded up $1.42 during trading on Friday, hitting $57.36. The stock had a trading volume of 67,366 shares, compared to its average volume of 188,363. The stock has a 50 day simple moving average of $55.47 and a two-hundred day simple moving average of $53.42. Delek Logistics Partners has a twelve month low of $42.82 and a twelve month high of $61.50. The company has a market capitalization of $3.28 billion, a PE ratio of 19.99 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). The business had revenue of $384.76 million during the quarter, compared to analysts' expectations of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, equities research analysts anticipate that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.1350 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.54 annualized dividend and a dividend yield of 7.9%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.13. Delek Logistics Partners's payout ratio is presently 158.19%.

About Delek Logistics Partners

Delek Logistics Partners, LP is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The partnership is affiliated with Delek US Holdings, Inc and primarily supports the transportation, storage and distribution of crude oil, refined products and other hydrocarbons.

Its assets include crude oil and refined-products pipelines, gathering systems, terminals, storage facilities and other logistics infrastructure. Delek Logistics also provides transportation, marketing and other logistics services that connect petroleum producers, refineries, terminals and downstream markets.

The partnership's operations are concentrated in the central and southwestern United States, including areas of Texas, New Mexico, Oklahoma, Arkansas and Tennessee.

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