Delek Logistics Partners (NYSE:DKL) Sets New 1-Year High – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL) shares reached a new 52-week high on Wednesday . The stock traded as high as $55.89 and last traded at $55.4450, with a volume of 19173 shares. The stock had previously closed at $55.31.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Raymond James Financial restated an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Truist Financial assumed coverage on Delek Logistics Partners in a report on Tuesday, March 24th. They set a “hold” rating and a $57.00 target price on the stock. Weiss Ratings lowered Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Finally, Mizuho raised their price objective on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.25.

Delek Logistics Partners Stock Up 0.0%

The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92. The stock’s fifty day simple moving average is $51.60 and its 200-day simple moving average is $51.01. The stock has a market cap of $2.94 billion, a P/E ratio of 17.51, a PEG ratio of 0.64 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. On average, research analysts anticipate that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.13 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend was Monday, May 4th. Delek Logistics Partners’s dividend payout ratio is 143.04%.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Delek Logistics Partners by 24.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after acquiring an additional 298,867 shares in the last quarter. Alps Advisors Inc. raised its holdings in Delek Logistics Partners by 3.8% during 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 purchasing an additional 165,741 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Delek Logistics Partners by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after purchasing an additional 99,500 shares during the period. HRT Financial LP lifted its position in Delek Logistics Partners by 278.3% in the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after purchasing an additional 54,959 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after purchasing an additional 48,284 shares in the last quarter. Institutional investors and hedge funds 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.