Delek Logistics Partners (NYSE:DKL) Shares Cross Below 200-Day Moving Average - Time to Sell?

Key Points

• Shares fell below the 200-day moving average, trading as low as $52.72 and last at $53.25, versus a 200-day average of $53.52.
• Analyst views are mixed, but the consensus rating is Hold, with an average price target of $56.40; recent changes included a Zacks downgrade to Strong Sell and higher targets from Citigroup and UBS.
• Delek Logistics missed quarterly EPS estimates ($0.85 versus $0.97) but exceeded revenue expectations. It raised its quarterly dividend to $1.14 per share, an annualized yield of 8.6%.

Delek Logistics Partners, L.P. (NYSE:DKL - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $53.52 and traded as low as $52.72. Delek Logistics Partners shares last traded at $53.25, with a volume of 107,636 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DKL. Citigroup increased their price target on Delek Logistics Partners from $52.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday. Weiss Ratings cut Delek Logistics Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Zacks Research downgraded Delek Logistics Partners from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Finally, UBS Group boosted their price target on Delek Logistics Partners from $55.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.40.

Delek Logistics Partners Price Performance

The company's 50-day moving average is $55.42 and its 200-day moving average is $53.52. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 18.55 and a beta of 0.43. The company has a current ratio of 0.85, a quick ratio of 0.91 and a debt-to-equity ratio of 15.37.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.12). Delek Logistics Partners had a net margin of 11.90% and a return on equity of 1,108.40%. The firm had revenue of $372.44 million for the quarter, compared to analyst estimates of $355.44 million. Equities research analysts predict that Delek Logistics Partners, L.P. will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd were issued a dividend of $1.14 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.1350. The ex-dividend date of this dividend was Tuesday, November 3rd. This represents a $4.56 dividend on an annualized basis and a dividend yield of 8.6%. Delek Logistics Partners's payout ratio is presently 158.89%.

Institutional Trading of Delek Logistics Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. grew its position in Delek Logistics Partners by 28.5% in the third quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer's stock valued at $299,831,000 after acquiring an additional 1,250,721 shares during the last quarter. NEOS Investment Management LLC boosted its stake in shares of Delek Logistics Partners by 56.0% in the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer's stock valued at $8,935,000 after purchasing an additional 62,267 shares in the last quarter. Infrastructure Capital Advisors LLC boosted its stake in shares of Delek Logistics Partners by 2.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer's stock valued at $7,786,000 after purchasing an additional 3,596 shares in the last quarter. Adams Asset Advisors LLC boosted its stake in shares of Delek Logistics Partners by 5.2% in the 3rd quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer's stock valued at $3,936,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at approximately $1,703,000. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek's refining and marketing businesses.

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