Delek Logistics Partners (NYSE:DKL) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $47.04 and traded as high as $53.42. Delek Logistics Partners shares last traded at $52.7420, with a volume of 59,240 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DKL shares. Zacks Research downgraded shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Citigroup restated a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Delek Logistics Partners currently has a consensus rating of “Hold” and an average price target of $50.67.

Delek Logistics Partners Stock Performance

The company has a market cap of $2.82 billion, a PE ratio of 16.03, a P/E/G ratio of 0.49 and a beta of 0.51. The company has a debt-to-equity ratio of 386.77, a quick ratio of 1.07 and a current ratio of 1.12. The stock’s 50-day simple moving average is $51.16 and its 200 day simple moving average is $47.07.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The firm had revenue of $255.77 million during the quarter, compared to analyst estimates of $283.64 million. As a group, equities analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a $1.125 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.50 dividend on an annualized basis and a yield of 8.5%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is presently 136.78%.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 2.5% in the 3rd quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock valued at $196,887,000 after buying an additional 104,115 shares during the period. Westwood Holdings Group Inc. grew its holdings in Delek Logistics Partners by 5.6% during 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. JPMorgan Chase & Co. grew its holdings in Delek Logistics Partners by 16.4% during the second quarter. JPMorgan Chase & Co. now owns 327,466 shares of the oil and gas producer’s stock worth $14,065,000 after acquiring an additional 46,069 shares during the period. TT Capital Management LLC purchased a new position in Delek Logistics Partners in the second quarter worth $1,270,000. Finally, Sharpepoint LLC lifted its holdings in Delek Logistics Partners by 4.2% in the fourth quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after acquiring an additional 1,575 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.