Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.25 and traded as high as $51.85. Delek Logistics Partners shares last traded at $51.5890, with a volume of 83,577 shares.

Analysts Set New Price Targets

DKL has been the topic of several recent research reports. Zacks Research cut shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $45.00.

Delek Logistics Partners Trading Up 2.8%

The firm’s 50-day simple moving average is $46.69 and its 200 day simple moving average is $45.25. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 0.45 and a beta of 0.51.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.26). Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $251.65 million. Equities analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th will be paid a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, February 5th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a yield of 8.7%. Delek Logistics Partners’s payout ratio is presently 144.98%.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in DKL. BNP Paribas Financial Markets acquired a new position in Delek Logistics Partners during the 2nd quarter worth approximately $50,000. Jones Financial Companies Lllp increased its holdings in shares of 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 worth $52,000 after buying an additional 910 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 valued at $104,000 after acquiring an additional 1,100 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of 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 valued at $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Delek Logistics Partners by 1,186.5% during 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 acquiring an additional 3,868 shares during the last quarter. 11.75% of the stock is owned by institutional investors.

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.