Delek Logistics Partners (NYSE:DKL) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research note published on Tuesday, Marketbeat reports. The firm issued a hold rating and a $57.00 price objective on the oil and gas producer’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup restated a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Weiss Ratings raised Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Delek Logistics Partners in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.25.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock opened at $54.08 on Tuesday. Delek Logistics Partners has a fifty-two week low of $34.59 and a fifty-two week high of $55.89. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. The firm has a market capitalization of $2.89 billion, a P/E ratio of 16.44, a P/E/G ratio of 0.50 and a beta of 0.51. The company’s 50 day moving average price is $52.02 and its two-hundred day moving average price is $47.57.

Delek Logistics Partners (NYSE:DKL) last announced 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 for the quarter, compared to analyst estimates of $283.64 million. On average, equities analysts forecast that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were paid a $1.125 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 8.3%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in Delek Logistics Partners in the second quarter worth approximately $50,000. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 910 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Delek Logistics Partners by 92.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 1,100 shares during the period. Osaic Holdings Inc. increased its stake 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 in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Delek Logistics Partners by 1,186.5% in the 2nd 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 in the last quarter. 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.