Delek Logistics Partners (NYSE:DKL) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.32 and traded as high as $43.00. Delek Logistics Partners shares last traded at $42.80, with a volume of 42,793 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Delek Logistics Partners has a consensus rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Stock Up 1.0%

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 0.96 and a beta of 0.76. The company has a debt-to-equity ratio of 22.02, a current ratio of 1.61 and a quick ratio of 1.52. The stock has a fifty day moving average of $40.96 and a two-hundred day moving average of $41.32.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates of $0.73. The firm had revenue of $249.93 million for the quarter, compared to analyst estimates of $237.17 million. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. Sell-side analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 10.37%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s payout ratio is 148.49%.

Institutional Investors Weigh In On Delek Logistics Partners

Several large investors have recently modified their holdings of DKL. Jones Financial Companies Lllp lifted its stake in Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after buying an additional 910 shares during the period. SVB Wealth LLC bought a new stake in shares of Delek Logistics Partners in the 1st quarter valued at $53,000. GeoWealth Management LLC acquired a new position in shares of Delek Logistics Partners during the 4th quarter valued at $206,000. MGO One Seven LLC bought a new position in Delek Logistics Partners during the fourth quarter worth $206,000. Finally, Stifel Financial Corp boosted its stake in Delek Logistics Partners by 7.5% during the fourth quarter. Stifel Financial Corp now owns 5,076 shares of the oil and gas producer’s stock worth $215,000 after acquiring an additional 355 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.