Delek Logistics Partners (NYSE:DKL) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $40.96 and traded as high as $42.48. Delek Logistics Partners shares last traded at $42.43, with a volume of 91,746 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Delek Logistics Partners from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, Delek Logistics Partners currently has a consensus rating of "Hold" and a consensus price target of $44.25.

Delek Logistics Partners Price Performance

The business has a fifty day moving average of $39.60 and a 200 day moving average of $41.02. The stock has a market cap of $2.27 billion, a PE ratio of 15.06, a P/E/G ratio of 1.28 and a beta of 0.76.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $249.93 million for the quarter, compared to analysts' expectations of $237.17 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. On average, equities research analysts expect that Delek Logistics Partners, LP will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a dividend of $1.11 per share. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $4.44 annualized dividend and a yield of 10.46%. Delek Logistics Partners's payout ratio is presently 148.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DKL. Jones Financial Companies Lllp lifted its holdings in Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer's stock worth $52,000 after acquiring an additional 910 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Delek Logistics Partners during the 1st quarter worth approximately $53,000. Venturi Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the 4th quarter worth approximately $64,000. Van ECK Associates Corp grew its stake in Delek Logistics Partners by 74.6% during the 4th quarter. Van ECK Associates Corp now owns 4,854 shares of the oil and gas producer's stock worth $205,000 after buying an additional 2,074 shares during the last quarter. Finally, GeoWealth Management LLC bought a new position in Delek Logistics Partners during the 4th quarter worth $206,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.