Delek Logistics Partners, L.P. (NYSE:DKL) Stock Has Consensus Target Price of $55.60

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $55.60.

A number of analysts recently issued reports on the stock. UBS Group increased their target price on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Finally, Zacks Research cut Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd.

Delek Logistics Partners Trading Up 2.5%

Shares of NYSE:DKL traded up $1.42 on Friday, hitting $57.36. The company had a trading volume of 67,366 shares, compared to its average volume of 188,363. The business has a 50 day moving average of $55.47 and a 200 day moving average of $53.42. The company has a market cap of $3.28 billion, a PE ratio of 19.99 and a beta of 0.47. Delek Logistics Partners has a 52-week low of $42.82 and a 52-week high of $61.50.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. As a group, equities analysts predict that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.1350 per share. This represents a $4.54 dividend on an annualized basis and a dividend yield of 7.9%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is presently 158.19%.

Insider Buying and Selling

In other Delek Logistics Partners news, EVP Robert Wright purchased 1,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $50.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the executive vice president owned 7,994 shares in the company, valued at $399,700. This trade represents a 23.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Reuven Spiegel purchased 1,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president directly owned 29,549 shares in the company, valued at $1,477,450. This represents a 3.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 15,000 shares of company stock valued at $750,000. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds have recently made changes to their positions in DKL. State of Wyoming acquired a new stake in shares of Delek Logistics Partners during the first quarter worth approximately $67,000. Avior Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the second quarter valued at about $206,000. HB Wealth Management LLC bought a new position in Delek Logistics Partners in the 1st quarter worth approximately $216,000. Gateway Wealth Partners LLC acquired a new position in Delek Logistics Partners during the 1st quarter valued at $222,000. Finally, Tidal Investments LLC lifted its stake in shares of Delek Logistics Partners by 60.9% in the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after buying an additional 2,786 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The partnership is affiliated with Delek US Holdings, Inc and primarily supports the transportation, storage and distribution of crude oil, refined products and other hydrocarbons.

Its assets include crude oil and refined-products pipelines, gathering systems, terminals, storage facilities and other logistics infrastructure. Delek Logistics also provides transportation, marketing and other logistics services that connect petroleum producers, refineries, terminals and downstream markets.

The partnership’s operations are concentrated in the central and southwestern United States, including areas of Texas, New Mexico, Oklahoma, Arkansas and Tennessee.