Delek Logistics Partners (NYSE:DKL) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Delek Logistics Partners’ trading volume surged 120% to 187,618 shares, while the stock rose about 2% to $53.33.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $55.40 price target, although quarterly EPS of $0.54 fell short of the $0.93 estimate.
• The partnership increased its quarterly dividend to $1.135 per share, equating to a $4.54 annualized payout and an 8.5% yield; its payout ratio stands at 158.19%.

Shares of Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) saw an uptick in trading volume on Friday . 187,618 shares were traded during trading, an increase of 120% from the previous session's volume of 85,173 shares.The stock last traded at $53.3290 and had previously closed at $52.30.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DKL shares. UBS Group initiated coverage on shares of Delek Logistics Partners in a research report on Thursday, July 16th. They set a "neutral" rating and a $56.00 target price for the company. Raymond James Financial reissued an "outperform" rating and set a $60.00 target price on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Delek Logistics Partners in a research note on Friday, August 7th. Mizuho boosted their price target on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Delek Logistics Partners presently has an average rating of "Moderate Buy" and a consensus price target of $55.40.

Delek Logistics Partners Stock Up 2.0%

The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The company's fifty day moving average price is $54.24 and its 200-day moving average price is $52.63. The stock has a market capitalization of $2.84 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 0.68 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) 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 company had revenue of $384.76 million for the quarter, compared to analysts' expectations of $293.64 million. Analysts forecast that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.135 dividend. This is a boost from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners's payout ratio is currently 158.19%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DKL. GSA Capital Partners LLP purchased a new position in shares of Delek Logistics Partners during the 4th quarter worth about $1,054,000. PFG Investments LLC boosted its position in shares of Delek Logistics Partners by 50.9% during the fourth quarter. PFG Investments LLC now owns 33,650 shares of the oil and gas producer's stock valued at $1,501,000 after buying an additional 11,350 shares during the period. Alps Advisors Inc. boosted its position in shares of Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer's stock valued at $200,305,000 after buying an additional 165,741 shares during the period. Infrastructure Capital Advisors LLC grew its stake 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 valued at $7,786,000 after buying an additional 3,596 shares during the last quarter. Finally, Gateway Wealth Partners LLC bought a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $222,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

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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