Delek Logistics Partners (NYSE:DKL) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Delek Logistics Partners shares traded unusually actively, with approximately 79,535 shares changing hands while the stock remained nearly flat at $54.97.
• Analyst sentiment is mixed: MarketBeat reports an average “Hold” rating and a consensus price target of $55.40, with targets ranging from $56 to $60.
• The partnership reported quarterly EPS of $0.54, below the $0.93 consensus estimate, but revenue exceeded forecasts; it also raised its quarterly dividend to $1.135 per share, producing an annualized yield of about 8.2%.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 79,535 shares were traded during trading, a decline of 12% from the previous session's volume of 90,510 shares.The stock last traded at $54.97 and had previously closed at $54.94.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DKL shares. UBS Group initiated coverage on Delek Logistics Partners in a report on Thursday, July 16th. They set a "neutral" rating and a $56.00 price target on the stock. Raymond James Financial reiterated an "outperform" rating and set a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research raised shares of Delek Logistics Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $55.40.

Delek Logistics Partners Price Performance

The stock has a market cap of $3.17 billion, a P/E ratio of 19.31 and a beta of 0.46. The business has a 50-day simple moving average of $54.75 and a 200 day simple moving average of $52.85. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.39). The company had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. On average, analysts forecast that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.135 per share. This represents a $4.54 annualized dividend and a yield of 8.2%. The ex-dividend date was Monday, August 3rd. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $1.13. Delek Logistics Partners's dividend payout ratio (DPR) is 158.19%.

Insider Activity at Delek Logistics Partners

In other news, EVP Robert G. Wright purchased 1,500 shares of the business's stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $75,000.00. Following the completion of the transaction, the executive vice president owned 7,994 shares of the company's stock, valued at $399,700. The trade was a 23.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ezra Uzi Yemin purchased 6,000 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $50.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the chairman owned 168,217 shares in the company, valued at approximately $8,410,850. This trade represents a 3.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 15,000 shares of company stock valued at $750,000 over the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at about $50,000. Jones Financial Companies Lllp lifted 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 valued at $52,000 after buying an additional 910 shares during the period. State of Wyoming acquired a new position in Delek Logistics Partners in the first quarter valued at approximately $67,000. Osaic Holdings Inc. boosted its holdings in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer's stock worth $115,000 after buying an additional 1,910 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in shares of Delek Logistics Partners during the 2nd quarter worth approximately $206,000. 11.75% of the stock is owned by institutional investors.

About Delek Logistics Partners

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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