Delek Logistics Partners (NYSE:DKL) Reaches New 12-Month High - Time to Buy?

Key Points

• Delek Logistics Partners (NYSE:DKL) hit a new 52-week high, trading as high as $57.15 amid modest volume, continuing a recent upward move in the stock.
• Wall Street sentiment remains cautious overall: analysts have a consensus Hold rating with a $55.40 price target, even though a few firms recently nudged targets higher or upgraded the stock from stronger sell ratings.
• The partnership reported mixed quarterly results, with EPS missing estimates but revenue beating expectations, and it also raised its quarterly dividend to $1.13, implying a 7.9% yield.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.15 and last traded at $56.93, with a volume of 21023 shares changing hands. The stock had previously closed at $55.24.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DKL shares. Zacks Research upgraded shares of Delek Logistics Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Mizuho lifted their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 21st. Truist Financial started coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They set a "hold" rating and a $57.00 price target for the company. UBS Group assumed coverage on shares of Delek Logistics Partners in a research report on Thursday, July 16th. They issued a "neutral" rating and a $56.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Delek Logistics Partners from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Delek Logistics Partners currently has a consensus rating of "Hold" and a consensus price target of $55.40.

Delek Logistics Partners Stock Performance

The firm has a 50 day moving average of $52.03 and a two-hundred day moving average of $51.39. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. The stock has a market cap of $3.04 billion, a PE ratio of 18.07, a PEG ratio of 0.64 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.20). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The company had revenue of $297.47 million during the quarter, compared to analysts' expectations of $239.87 million. Research analysts predict that Delek Logistics Partners, L.P. will post 3.86 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.13 dividend. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 7.9%. Delek Logistics Partners's payout ratio is 143.04%.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Focus Financial Network Inc. boosted its stake in Delek Logistics Partners by 2.2% in the second 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 in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the second quarter worth about $206,000. Infrastructure Capital Advisors LLC increased its position in shares of Delek Logistics Partners by 2.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer's stock worth $7,786,000 after purchasing an additional 3,596 shares in the last quarter. Gateway Wealth Partners LLC purchased a new stake in shares of Delek Logistics Partners in the 1st quarter valued at about $222,000. Finally, State of Wyoming purchased a new stake in shares of Delek Logistics Partners in the 1st quarter valued at about $67,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About Delek Logistics Partners

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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