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

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have earned a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $52.25.

Several research firms have recently commented on DKL. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Citigroup reaffirmed a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a report on Friday, March 6th. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Truist Financial started coverage on Delek Logistics Partners in a report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 target price for the company. Finally, Raymond James Financial restated an “outperform” rating and set a $55.00 target price on shares of Delek Logistics Partners in a research report on Thursday, March 5th.

Delek Logistics Partners Trading Down 3.4%

Shares of Delek Logistics Partners stock opened at $51.32 on Tuesday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.50. Delek Logistics Partners has a 52-week low of $34.59 and a 52-week high of $55.89. The company’s 50-day simple moving average is $52.42 and its 200-day simple moving average is $47.83. The company has a quick ratio of 1.07, a current ratio of 1.12 and a debt-to-equity ratio of 386.77.

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

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were issued a dividend of $1.125 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend was Thursday, February 5th. Delek Logistics Partners’s payout ratio is presently 136.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DKL. Alps Advisors Inc. boosted its stake in shares of Delek Logistics Partners by 3.8% during the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after acquiring an additional 165,741 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Delek Logistics Partners by 4.1% in the 3rd 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 acquiring an additional 61,840 shares during the period. JPMorgan Chase & Co. increased its stake in Delek Logistics Partners by 1.1% in the 4th quarter. JPMorgan Chase & Co. now owns 431,845 shares of the oil and gas producer’s stock valued at $19,269,000 after purchasing an additional 4,879 shares in the last quarter. Westwood Holdings Group Inc. raised 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 purchasing an additional 12,266 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Delek Logistics Partners by 11.2% during 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 purchasing an additional 23,054 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.