Delek Logistics Partners (NYSE:DKL) Sets New 1-Year High – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $48.38 and last traded at $48.26, with a volume of 29164 shares trading hands. The stock had previously closed at $47.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Delek Logistics Partners Stock Performance

The company has a debt-to-equity ratio of 130.97, a quick ratio of 0.98 and a current ratio of 1.03. The business has a 50 day moving average price of $45.43 and a two-hundred day moving average price of $44.67. The company has a market cap of $2.59 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.26). The company had revenue of $261.28 million for the quarter, compared to the consensus estimate of $251.65 million. Delek Logistics Partners had a return on equity of 360.64% and a net margin of 17.00%. On average, sell-side analysts anticipate 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, November 13th. Stockholders of record on Friday, November 7th were issued a $1.12 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.48 annualized dividend and a dividend yield of 9.3%. The ex-dividend date was Friday, November 7th. Delek Logistics Partners’s dividend payout ratio (DPR) is 144.98%.

Institutional Investors Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in DKL. Novem Group lifted its holdings in Delek Logistics Partners by 9.8% in the 2nd quarter. Novem Group now owns 22,719 shares of the oil and gas producer’s stock worth $976,000 after buying an additional 2,019 shares during the period. Westwood Holdings Group Inc. lifted its stake in Delek Logistics Partners by 5.6% in the second quarter. Westwood Holdings Group Inc. now owns 231,169 shares of the oil and gas producer’s stock worth $9,929,000 after acquiring an additional 12,266 shares during the period. Abel Hall LLC bought a new stake in Delek Logistics Partners in the second quarter valued at $430,000. ELCO Management Co. LLC bought a new stake in Delek Logistics Partners in the second quarter valued at $494,000. Finally, TT Capital Management LLC purchased a new position in Delek Logistics Partners during the 2nd quarter valued at $1,270,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.