Brokerages Set Delek Logistics Partners, L.P. (NYSE:DKL) PT at $50.67

Delek Logistics Partners, L.P. (NYSE:DKL) has received a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $50.6667.

Several analysts have recently commented on DKL shares. Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Zacks Research lowered shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Raymond James Financial restated an “outperform” rating and issued a $55.00 price target on shares of Delek Logistics Partners in a report on Thursday. Finally, 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.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock opened at $52.09 on Friday. The business has a 50-day moving average price of $50.41 and a two-hundred day moving average price of $46.76. Delek Logistics Partners has a 1-year low of $34.59 and a 1-year high of $55.89. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 386.77. The company has a market cap of $2.79 billion, a P/E ratio of 15.83, a PEG ratio of 0.48 and a beta of 0.50.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). The business had revenue of $255.77 million for 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%. As a group, analysts anticipate that Delek Logistics Partners will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Thursday, February 5th were given a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Thursday, February 5th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is presently 136.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Delek Logistics Partners by 24.4% in the second 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 acquiring an additional 298,867 shares during the period. Alps Advisors Inc. increased its stake in Delek Logistics Partners by 3.8% during 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 purchasing an additional 165,741 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Delek Logistics Partners by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after purchasing an additional 99,500 shares in the last quarter. HRT Financial LP raised its holdings in Delek Logistics Partners by 278.3% during the second quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after buying an additional 54,959 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Delek Logistics Partners by 30.8% during the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after buying an additional 48,284 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.