Delek Logistics Partners (NYSE:DKL) Shares Gap Up to $41.95

Delek Logistics Partners, LP (NYSE:DKL – Get Rating) gapped up prior to trading on Monday . The stock had previously closed at $41.95, but opened at $43.78. Delek Logistics Partners shares last traded at $42.49, with a volume of 3,721 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Delek Logistics Partners from a “sell” rating to a “hold” rating in a report on Saturday, April 29th.

Delek Logistics Partners Trading Down 2.2 %

The stock has a 50-day simple moving average of $48.25 and a 200-day simple moving average of $48.88. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.72 and a beta of 2.14.

Delek Logistics Partners (NYSE:DKL – Get Rating) last announced its earnings results on Tuesday, February 28th. The oil and gas producer reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.16). Delek Logistics Partners had a net margin of 15.35% and a negative return on equity of 142.03%. The business had revenue of $269.05 million during the quarter, compared to analyst estimates of $294.15 million. On average, research analysts forecast that Delek Logistics Partners, LP will post 5.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were given a $1.025 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 9.69%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, May 5th. Delek Logistics Partners’s dividend payout ratio is presently 113.57%.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Ahrens Investment Partners LLC acquired a new stake in shares of Delek Logistics Partners during the 1st quarter valued at approximately $28,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the 4th quarter valued at approximately $28,000. Citigroup Inc. acquired a new stake in shares of Delek Logistics Partners during the 1st quarter valued at approximately $35,000. VitalStone Financial LLC acquired a new stake in shares of Delek Logistics Partners during the 4th quarter valued at approximately $38,000. Finally, BNP Paribas Arbitrage SNC acquired a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at approximately $121,000. 12.39% of the stock is owned by institutional investors and hedge funds.

Delek Logistics Partners Company Profile

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Delek Logistics Partners LP owns and operates logistics and marketing assets for crude oil, intermediate, and refined products. The firm gathers, transports, and stores crude oil. It also markets, distributes, transports, and stores refined products. It operates through the following segments: Pipelines and Transportation, Wholesale Marketing and Terminalling, and Investments in Pipeline Joint Ventures.