Delek Logistics Partners, L.P. (NYSE:DKL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.25.

Several analysts recently issued reports on DKL shares. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Raymond James Financial restated an “outperform” rating and set a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Mizuho upped their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, Truist Financial began coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price for the company.

Delek Logistics Partners Stock Up 0.6%

Shares of DKL stock opened at $52.49 on Wednesday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.61 and a beta of 0.50. Delek Logistics Partners has a one year low of $40.10 and a one year high of $55.89. The company’s fifty day moving average price is $51.35 and its 200-day moving average price is $49.19. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.20). Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%.The business had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. Sell-side analysts expect that Delek Logistics Partners will post 3.86 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $1.13 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.52 annualized dividend and a yield of 8.6%. The ex-dividend date was Monday, May 4th. Delek Logistics Partners’s dividend payout ratio (DPR) is 143.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its position in Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after buying an additional 165,741 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Delek Logistics Partners by 4.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,584,902 shares of the oil and gas producer’s stock worth $72,176,000 after buying an additional 61,840 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Delek Logistics Partners by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock worth $19,269,000 after buying an additional 4,879 shares during the last quarter. Raymond James Financial Inc. lifted its position in Delek Logistics Partners by 11.2% in the third quarter. Raymond James Financial Inc. now owns 228,090 shares of the oil and gas producer’s stock worth $10,387,000 after buying an additional 23,054 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its position in Delek Logistics Partners by 2.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after buying an additional 3,596 shares during the last quarter. Hedge funds and other institutional investors 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.