Delek Logistics Partners, L.P. (NYSE:DKL) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on Delek Logistics Partners, with five holds, one buy and one strong buy; the average 12-month price target is $55.60.
• Delek Logistics Partners reported quarterly EPS of $0.54, below the $0.93 consensus estimate, despite revenue of $384.76 million exceeding expectations.
• The company increased its quarterly dividend to $1.135, equating to a $4.54 annualized payout and an approximately 8.2% yield; insiders also purchased $750,000 of shares over the past 90 days.

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

Several research analysts have recently weighed in on DKL shares. UBS Group increased their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday. Zacks Research raised shares of Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings cut shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday.

Delek Logistics Partners Price Performance

DKL stock opened at $55.68 on Tuesday. Delek Logistics Partners has a 52-week low of $42.35 and a 52-week high of $61.50. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $3.18 billion, a P/E ratio of 19.40 and a beta of 0.44. The business has a 50-day simple moving average of $56.19 and a two-hundred day simple moving average of $53.14.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The firm had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Research analysts expect that Delek Logistics Partners will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a $1.135 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.2%. Delek Logistics Partners's payout ratio is currently 158.19%.

Insider Activity at Delek Logistics Partners

In other news, Chairman Ezra Yemin purchased 6,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the chairman directly owned 168,217 shares in the company, valued at approximately $8,410,850. This trade represents a 3.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Reuven Spiegel acquired 1,000 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was purchased 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 directly owned 29,549 shares in the company, valued at approximately $1,477,450. This represents a 3.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 15,000 shares of company stock valued at $750,000 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of DKL. State of Wyoming bought a new position in Delek Logistics Partners during the first quarter valued at approximately $67,000. Avior Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the 2nd quarter worth approximately $206,000. Motiv8 Investments LLC purchased a new stake in shares of Delek Logistics Partners in the 4th quarter valued at $192,000. HB Wealth Management LLC bought a new position in shares of Delek Logistics Partners during the 1st quarter valued at $216,000. Finally, Gateway Wealth Partners LLC bought a new position in shares of Delek Logistics Partners during the 1st quarter valued at $222,000. Institutional investors own 11.75% of the company's stock.

About Delek Logistics Partners

Delek Logistics Partners, LP NYSE: DKL is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.

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