Mizuho Issues Positive Forecast for Delek Logistics Partners (NYSE:DKL) Stock Price

Delek Logistics Partners (NYSE:DKL) had its price target increased by Mizuho from $45.00 to $52.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a neutral rating on the oil and gas producer’s stock.

DKL has been the subject of a number of other reports. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Citigroup reaffirmed a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Truist Financial assumed coverage on Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price target for the company. 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 reaffirmed an “outperform” rating and issued a $55.00 price target 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus price target of $54.00.

Delek Logistics Partners Stock Down 1.6%

Shares of NYSE:DKL opened at $49.27 on Tuesday. Delek Logistics Partners has a 52 week low of $36.18 and a 52 week high of $55.89. The company has a debt-to-equity ratio of 386.77, a quick ratio of 1.07 and a current ratio of 1.12. The company’s fifty day moving average is $52.16 and its 200-day moving average is $48.30. The company has a market capitalization of $2.63 billion, a PE ratio of 14.97, a P/E/G ratio of 0.55 and a beta of 0.54.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Friday, February 27th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.38). The business had revenue of $255.77 million during the quarter, compared to the consensus estimate of $283.64 million. Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. Equities research analysts predict that Delek Logistics Partners will post 4.13 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, February 12th. Shareholders of record on Thursday, February 5th were given a dividend of $1.125 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.50 dividend on an annualized basis and a yield of 9.1%. Delek Logistics Partners’s payout ratio is currently 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

Several large investors have recently made changes to their positions in the stock. Motiv8 Investments LLC acquired a new stake in shares of Delek Logistics Partners in the 4th quarter valued at approximately $192,000. Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 258 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Delek Logistics Partners by 31.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer’s stock valued at $603,000 after buying an additional 3,257 shares during the last quarter. American Financial Group Inc. boosted its holdings in shares of Delek Logistics Partners by 3.0% in the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock valued at $759,000 after buying an additional 500 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

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.