Delek Logistics Partners (NYSE:DKL) Trading Down 4.3% – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price dropped 4.3% on Monday . The company traded as low as $57.89 and last traded at $57.7260. Approximately 31,272 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 72,531 shares. The stock had previously closed at $60.31.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DKL shares. Raymond James Financial reissued an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. UBS Group initiated coverage on shares of Delek Logistics Partners in a research note on Thursday, July 16th. They set a “neutral” rating and a $56.00 target price for the company. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Zacks Research raised Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Mizuho upped their price target 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.40.

Delek Logistics Partners Stock Down 4.7%

The company has a market capitalization of $3.06 billion, a PE ratio of 18.20, a P/E/G ratio of 0.66 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96. The company’s 50-day moving average is $53.07 and its 200 day moving average is $52.03.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a dividend of $1.135 per share. The ex-dividend date is Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 7.9%. Delek Logistics Partners’s dividend payout ratio is currently 143.67%.

Institutional Investors Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Focus Financial Network Inc. lifted its position in Delek Logistics Partners by 2.2% in the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock valued at $707,000 after acquiring an additional 300 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the 2nd quarter worth $206,000. Infrastructure Capital Advisors LLC increased its holdings 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 worth $7,786,000 after purchasing an additional 3,596 shares in the last quarter. Gateway Wealth Partners LLC purchased a new position in shares of Delek Logistics Partners in the first quarter worth $222,000. Finally, State of Wyoming purchased a new position in shares of Delek Logistics Partners in the first quarter worth $67,000. 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.