Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $47.04 and traded as high as $53.42. Delek Logistics Partners shares last traded at $52.7420, with a volume of 59,240 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DKL. Citigroup reiterated 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 lowered Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $55.00 price target on shares of Delek Logistics Partners in a report on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.67.

Delek Logistics Partners Stock Performance

The firm has a fifty day simple moving average of $51.16 and a 200-day simple moving average of $47.04. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 0.49 and a beta of 0.51. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The company had revenue of $255.77 million during the quarter, compared to the consensus estimate of $283.64 million. Analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a $1.125 dividend. This represents a $4.50 annualized dividend and a yield of 8.5%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio (DPR) is 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in Delek Logistics Partners in the 2nd quarter worth $50,000. Jones Financial Companies Lllp increased its position in shares of Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 910 shares during the last quarter. Farther Finance Advisors LLC raised its position in Delek Logistics Partners by 92.8% during the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 1,100 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Delek Logistics Partners by 245.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares during the period. Finally, Bank of America Corp DE grew its holdings in Delek Logistics Partners by 1,186.5% during the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.