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

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.70 and traded as high as $44.43. Delek Logistics Partners shares last traded at $44.29, with a volume of 71,631 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DKL shares. Mizuho raised Delek Logistics Partners to a "hold" rating in a research report on Thursday, June 26th. Wall Street Zen lowered 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, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $44.25.

Delek Logistics Partners Stock Performance

The firm has a market cap of $2.37 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.00 and a beta of 0.76. The stock's 50-day moving average price is $42.57 and its 200 day moving average price is $41.70. The company has a debt-to-equity ratio of 22.02, a current ratio of 1.61 and a quick ratio of 1.52.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share for the quarter, meeting analysts' consensus estimates of $0.73. Delek Logistics Partners had a net margin of 15.88% and a negative return on equity of 1,782.51%. The business had revenue of $249.93 million during the quarter, compared to the consensus estimate of $237.17 million. As a group, equities analysts predict that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a $1.11 dividend. This is an increase 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 dividend on an annualized basis and a yield of 10.03%. Delek Logistics Partners's payout ratio is presently 148.49%.

Hedge Funds Weigh In On Delek Logistics Partners

Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 31.3% during the 1st quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer's stock valued at $186,722,000 after acquiring an additional 1,028,497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Delek Logistics Partners by 26.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,224,195 shares of the oil and gas producer's stock valued at $52,959,000 after purchasing an additional 254,213 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Delek Logistics Partners during the fourth quarter worth $17,819,000. Clearbridge Investments LLC boosted its holdings in Delek Logistics Partners by 50.8% in the fourth quarter. Clearbridge Investments LLC now owns 296,718 shares of the oil and gas producer's stock valued at $12,539,000 after purchasing an additional 100,000 shares during the period. Finally, Cohen & Steers Inc. acquired a new stake in shares of Delek Logistics Partners during the fourth quarter worth about $11,805,000. Institutional investors own 11.75% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.