Analysts Set Delek Logistics Partners, L.P. (NYSE:DKL) PT at $54.00

Delek Logistics Partners, L.P. (NYSE:DKL) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.00.

Several equities research analysts have issued reports on DKL shares. Zacks Research lowered Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note 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. Mizuho boosted their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and issued a $55.00 target price on shares of Delek Logistics Partners in a research note on Thursday, March 5th. Finally, Citigroup reissued a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th.

Delek Logistics Partners Trading Up 0.2%

Shares of DKL stock opened at $50.51 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.12 and a debt-to-equity ratio of 386.77. The business has a 50-day moving average price of $51.84 and a two-hundred day moving average price of $48.47. Delek Logistics Partners has a 12-month low of $37.50 and a 12-month high of $55.89. The firm has a market cap of $2.70 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.55 and a beta of 0.54.

Delek Logistics Partners (NYSE:DKL) last issued 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 firm had revenue of $255.77 million for the quarter, compared to the consensus estimate of $283.64 million. Equities analysts anticipate that Delek Logistics Partners will post 4.11 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Monday, May 4th will be paid a $1.13 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 8.9%. Delek Logistics Partners’s dividend payout ratio is presently 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC bought a new stake in shares of Delek Logistics Partners in the 1st quarter valued at about $216,000. Castellan Group lifted its stake in shares of Delek Logistics Partners by 7.6% in the 1st quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock valued at $4,536,000 after acquiring an additional 6,430 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Delek Logistics Partners by 91.1% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 10,782 shares of the oil and gas producer’s stock valued at $537,000 after acquiring an additional 5,141 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Delek Logistics Partners in the 4th quarter valued at about $192,000. Finally, Van ECK Associates Corp lifted its stake 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 acquiring an additional 258 shares during the last quarter. Institutional investors 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.