Delek Logistics Partners, L.P. (NYSE:DKL) Stock Has Average Target Price of $55.60 According to Analysts

Key Points

• Analyst sentiment is mostly neutral: Seven analysts give Delek Logistics Partners a consensus “Hold” rating, with an average 12-month price target of $55.60.
• Quarterly results were mixed: Earnings of $0.85 per share missed the $0.97 consensus, while revenue of $372.44 million topped analysts’ $355.44 million estimate.
• The partnership raised its quarterly dividend to $1.14 per share, equal to an annualized $4.56 and an 8.6% yield. The payout ratio was 158.89%.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) has been assigned a consensus rating of "Hold" from the seven analysts that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $55.60.

A number of equities analysts have issued reports on DKL shares. UBS Group upped 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 lowered Delek Logistics Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings cut Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday.

Delek Logistics Partners Stock Down 0.2%

Shares of NYSE:DKL opened at $53.06 on Wednesday. The company has a fifty day moving average of $55.54 and a 200-day moving average of $53.45. The company has a market capitalization of $3.03 billion, a PE ratio of 18.49 and a beta of 0.43. The company has a debt-to-equity ratio of 15.37, a quick ratio of 0.91 and a current ratio of 0.85. Delek Logistics Partners has a 52-week low of $43.12 and a 52-week high of $61.50.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The oil and gas producer reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.12). Delek Logistics Partners had a net margin of 11.90% and a return on equity of 1,108.40%. The firm had revenue of $372.44 million during the quarter, compared to the consensus estimate of $355.44 million. On average, equities analysts predict that Delek Logistics Partners will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd were issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.1350. The ex-dividend date was Tuesday, November 3rd. Delek Logistics Partners's dividend payout ratio (DPR) is presently 158.89%.

Insiders Place Their Bets

In related news, EVP Mark Hobbs bought 4,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, with a total value of $200,000.00. Following the transaction, the executive vice president directly owned 24,125 shares in the company, valued at approximately $1,206,250. This trade 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 the SEC website. Also, Chairman Ezra Yemin bought 6,000 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the chairman directly owned 168,217 shares of the company's stock, valued at $8,410,850. The trade was a 3.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 15,000 shares of company stock valued at $750,000 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DKL. NEOS Investment Management LLC lifted its position in shares of Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer's stock worth $8,935,000 after buying an additional 62,267 shares in the last quarter. Alps Advisors Inc. boosted its position in Delek Logistics Partners by 28.5% in the third quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer's stock worth $299,831,000 after purchasing an additional 1,250,721 shares during the last quarter. Pinnacle Holdings LLC bought a new position in Delek Logistics Partners during the second quarter valued at about $1,703,000. Focus Financial Network Inc. grew its position in shares of 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 valued at $707,000 after acquiring an additional 300 shares during the period. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Delek Logistics Partners during the 3rd quarter worth approximately $225,000. 11.75% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek's refining and marketing businesses.

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