Delek Logistics Partners (NYSE:DKL) Stock Price Down 4.3% - Time to Sell?

Key Points

• Delek Logistics Partners shares fell 4.3% to approximately $57.73, with trading volume 57% below the average session volume.
• Analyst sentiment remains cautious: two analysts rate the stock Buy and five rate it Hold, producing a consensus “Hold” rating and a $55.40 average price target.
• The partnership raised its quarterly dividend to $1.135 per share, equivalent to a $4.54 annualized payout and a 7.9% yield; however, its dividend payout ratio is elevated at 143.67%.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) fell 4.3% during mid-day trading on Monday . The stock traded as low as $57.89 and last traded at $57.7260. 31,272 shares changed hands during trading, a decline of 57% from the average session volume of 72,531 shares. The stock had previously closed at $60.31.

Analyst Ratings Changes

DKL has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Mizuho raised their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 21st. Zacks Research raised Delek Logistics Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. UBS Group started coverage on Delek Logistics Partners in a research note on Thursday, July 16th. They set a "neutral" rating and a $56.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Delek Logistics Partners from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Delek Logistics Partners presently has a consensus rating of "Hold" and a consensus target price of $55.40.

Delek Logistics Partners Stock Down 4.7%

The company's fifty day simple moving average is $53.07 and its 200 day simple moving average is $52.03. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The firm has a market capitalization of $3.06 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.47.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a dividend of $1.135 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Monday, August 3rd. Delek Logistics Partners's dividend payout ratio is presently 143.67%.

Institutional Trading of Delek Logistics Partners

Several large investors have recently bought and sold shares of DKL. Van ECK Associates Corp raised its position in shares of Delek Logistics Partners by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer's stock worth $248,000 after acquiring an additional 258 shares in the last quarter. Focus Financial Network Inc. boosted its position in shares of Delek Logistics Partners by 2.2% during 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 purchasing an additional 300 shares in the last quarter. American Financial Group Inc. grew its stake in Delek Logistics Partners by 3.0% in the fourth quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer's stock worth $759,000 after purchasing an additional 500 shares during the period. Jones Financial Companies Lllp grew its stake 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 purchasing an additional 910 shares during the period. Finally, Private Advisor Group LLC raised its holdings in Delek Logistics Partners by 8.0% in the third quarter. Private Advisor Group LLC now owns 13,537 shares of the oil and gas producer's stock worth $616,000 after purchasing an additional 1,000 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Company Profile

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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