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

Delek Logistics Partners, L.P. (NYSE:DKL) has been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.25.

A number of research analysts have issued reports on DKL shares. Wall Street Zen cut Delek Logistics Partners from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. Mizuho upgraded Delek Logistics Partners to a “hold” rating in a research report on Thursday, June 26th.

Institutional Trading of Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in DKL. BNP Paribas Financial Markets bought a new stake in Delek Logistics Partners in the second quarter valued at approximately $50,000. Jones Financial Companies Lllp boosted its holdings 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 acquiring an additional 910 shares during the last quarter. SVB Wealth LLC bought a new stake in Delek Logistics Partners in the first quarter valued at approximately $53,000. Bank of America Corp DE boosted its holdings in Delek Logistics Partners by 1,186.5% in the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 3,868 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Delek Logistics Partners in the second quarter valued at approximately $207,000. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Stock Performance

Delek Logistics Partners stock opened at $43.30 on Friday. Delek Logistics Partners has a 12-month low of $34.59 and a 12-month high of $48.00. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 69.13. The business’s 50-day moving average price is $43.76 and its two-hundred day moving average price is $41.83. The stock has a market cap of $2.31 billion, a PE ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 0.69.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Delek Logistics Partners had a return on equity of 1,224.47% and a net margin of 16.58%. The firm had revenue of $246.35 million for the quarter, compared to analysts’ expectations of $289.07 million. As a group, analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were issued a dividend of $1.115 per share. This represents a $4.46 annualized dividend and a dividend yield of 10.3%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.11. The ex-dividend date was Friday, August 8th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 151.19%.

Delek Logistics Partners Company Profile

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.