Delek Logistics Partners (NYSE:DKL) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Delek Logistics Partners (NYSE:DKL - Free Report) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $46.00 target price on the oil and gas producer's stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Delek Logistics Partners from a hold rating to a buy rating in a research note on Tuesday, April 9th. Raymond James raised shares of Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price target on the stock in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $45.33.

Delek Logistics Partners Price Performance

Shares of DKL stock traded up $0.36 during mid-day trading on Friday, hitting $38.36. The company had a trading volume of 101,228 shares, compared to its average volume of 72,142. Delek Logistics Partners has a 52-week low of $36.50 and a 52-week high of $58.81. The stock's 50 day moving average price is $41.75 and its 200-day moving average price is $44.28. The company has a market capitalization of $1.67 billion, a P/E ratio of 13.23 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. On average, equities research analysts expect that Delek Logistics Partners will post 3.48 earnings per share for the current year.

Delek Logistics Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, February 29th. Delek Logistics Partners's dividend payout ratio (DPR) is 145.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DKL. Citigroup Inc. bought a new position in Delek Logistics Partners during the first quarter valued at $35,000. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners during the first quarter valued at $66,000. Spirit of America Management Corp NY bought a new position in Delek Logistics Partners during the fourth quarter valued at $86,000. Fifth Third Bancorp bought a new position in Delek Logistics Partners during the third quarter valued at $103,000. Finally, Barclays PLC increased its position in Delek Logistics Partners by 668.7% during the fourth quarter. Barclays PLC now owns 2,629 shares of the oil and gas producer's stock valued at $119,000 after acquiring an additional 2,287 shares during the last quarter. Institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Company Profile

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.