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

Key Points

• Analyst consensus is “Hold”: Five of seven analysts rate Delek Logistics Partners neutral, while two recommend buying. The average 12-month price target is $55.40, below the stock’s reported opening price of $60.60.
• Delek Logistics raised its quarterly dividend to $1.135 per share, or $4.54 annually, representing an approximately 7.5% yield. Its dividend payout ratio is 143.67%.
• DKL trades near its 12-month high of $61.50 and has a $3.22 billion market capitalization, while institutional investors own 11.75% of the stock.

Shares of Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) have received an average recommendation of "Hold" from the seven analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $55.40.

Several analysts recently issued reports on the stock. 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. Zacks Research upgraded shares of Delek Logistics Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. UBS Group assumed coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a "neutral" rating and a $56.00 target price for the company. Mizuho raised their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th.

Delek Logistics Partners Price Performance

DKL stock opened at $60.60 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 12 month low of $41.72 and a 12 month high of $61.50. The firm has a market cap of $3.22 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.66 and a beta of 0.47. The company's 50-day moving average price is $53.07 and its two-hundred day moving average price is $52.03.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a $1.135 dividend. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Monday, August 3rd. Delek Logistics Partners's dividend payout ratio (DPR) is presently 143.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DKL. BNP Paribas Financial Markets acquired a new stake in shares of Delek Logistics Partners in the 2nd quarter valued at approximately $50,000. Jones Financial Companies Lllp lifted its stake in Delek Logistics Partners by 303.3% in the 1st 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 last quarter. State of Wyoming bought a new position in Delek Logistics Partners in the 1st quarter valued at approximately $67,000. Osaic Holdings Inc. boosted its position in Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer's stock valued at $115,000 after buying an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Delek Logistics Partners by 1,186.5% in the second 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. Institutional investors own 11.75% of the company's stock.

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.

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