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

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.87 and traded as high as $47.98. Delek Logistics Partners shares last traded at $47.7620, with a volume of 77,441 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Delek Logistics Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.50.

Delek Logistics Partners Trading Up 0.0%

The company’s fifty day simple moving average is $45.78 and its two-hundred day simple moving average is $44.87. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.47. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 130.97.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Friday, November 7th. The oil and gas producer reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.26). The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. Research analysts forecast that Delek Logistics Partners, L.P. 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, November 13th. Stockholders of record on Friday, November 7th were issued a dividend of $1.12 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Friday, November 7th. This represents a $4.48 annualized dividend and a dividend yield of 9.4%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 144.98%.

Institutional Trading of Delek Logistics Partners

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in Delek Logistics Partners in the second quarter valued at approximately $50,000. Jones Financial Companies Lllp lifted its position in Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 910 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Delek Logistics Partners by 92.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 1,100 shares during the period. Osaic Holdings Inc. increased its holdings in Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after purchasing an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE raised 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 purchasing an additional 3,868 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.