Delek Logistics Partners (NYSE:DKL) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Shares of Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.32 and traded as high as $43.00. Delek Logistics Partners shares last traded at $42.80, with a volume of 42,793 shares.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho raised Delek Logistics Partners to a "hold" rating in a research note on Thursday. Wall Street Zen lowered Delek Logistics Partners from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Two equities 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $44.25.

Delek Logistics Partners Stock Down 0.3%

The company has a debt-to-equity ratio of 22.02, a current ratio of 1.61 and a quick ratio of 1.52. The firm has a market capitalization of $2.30 billion, a P/E ratio of 14.36, a PEG ratio of 0.98 and a beta of 0.76. The firm's fifty day moving average price is $41.08 and its 200-day moving average price is $41.38.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.73. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. The firm had revenue of $249.93 million during the quarter, compared to analyst estimates of $237.17 million. As a group, equities research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 earnings per share 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 issued a dividend of $1.11 per share. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.11. This represents a $4.44 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date of this dividend was Thursday, May 8th. Delek Logistics Partners's payout ratio is presently 148.49%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of 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 worth $52,000 after purchasing an additional 910 shares during the last quarter. SVB Wealth LLC bought a new stake in Delek Logistics Partners during the first quarter worth approximately $53,000. GeoWealth Management LLC acquired a new position in Delek Logistics Partners in the fourth quarter worth approximately $206,000. MGO One Seven LLC bought a new position in shares of Delek Logistics Partners in the fourth quarter valued at $206,000. Finally, Stifel Financial Corp increased its holdings in shares of Delek Logistics Partners by 7.5% in the fourth quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer's stock valued at $215,000 after buying an additional 355 shares in the last quarter. 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.