Delek Logistics Partners (NYSE:DKL) Upgraded at UBS Group

UBS Group upgraded shares of Delek Logistics Partners (NYSE:DKL) to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on DKL. Truist Financial began coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a report on Thursday, April 30th. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Mizuho boosted their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, Zacks Research raised Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.40.

Delek Logistics Partners Stock Down 2.2%

Shares of Delek Logistics Partners stock opened at $54.90 on Thursday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.64 and a beta of 0.47. Delek Logistics Partners has a twelve month low of $41.72 and a twelve month high of $56.83. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The business’s 50 day simple moving average is $51.88 and its 200-day simple moving average is $51.19.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. Equities research analysts forecast that Delek Logistics Partners will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 8.2%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Monday, May 4th. Delek Logistics Partners’s payout ratio is currently 143.04%.

Institutional Trading of Delek Logistics Partners

Several institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Delek Logistics Partners by 303.3% during 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 buying an additional 910 shares in the last quarter. Jump Financial LLC acquired a new stake in Delek Logistics Partners in the 2nd quarter valued at about $207,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Delek Logistics Partners by 24.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after purchasing an additional 298,867 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after purchasing an additional 48,284 shares in the last quarter. Finally, Bank of America Corp DE grew 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 worth $180,000 after purchasing an additional 3,868 shares during 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.