Delek Logistics Partners, L.P. (NYSE:DKL) Receives $52.25 Consensus Price Target from Brokerages

Delek Logistics Partners, L.P. (NYSE:DKL) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $52.25.

A number of brokerages recently issued reports on DKL. Citigroup restated 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. Raymond James Financial reissued an “outperform” rating and issued a $55.00 price objective on shares of Delek Logistics Partners in a report on Thursday, March 5th. Zacks Research cut 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 report on Wednesday, February 4th. Finally, Truist Financial assumed coverage on Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 target price on the stock.

Delek Logistics Partners Trading Down 0.5%

Shares of Delek Logistics Partners stock opened at $50.20 on Tuesday. The firm’s 50 day simple moving average is $52.55 and its two-hundred day simple moving average is $47.90. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.47 and a beta of 0.54. Delek Logistics Partners has a 12-month low of $34.59 and a 12-month 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.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data 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 company had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%. Analysts predict that Delek Logistics Partners will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were paid a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a yield of 9.0%. The ex-dividend date 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 (DPR) is presently 136.78%.

Institutional Trading of Delek Logistics Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in DKL. Motiv8 Investments LLC acquired a new position in Delek Logistics Partners during the fourth quarter valued at $192,000. Van ECK Associates Corp boosted its holdings in Delek Logistics Partners by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 5,547 shares of the oil and gas producer’s stock valued at $248,000 after purchasing an additional 258 shares during the last quarter. Wells Fargo & Company MN grew its position in Delek Logistics Partners by 31.7% during the 4th quarter. Wells Fargo & Company MN now owns 13,523 shares of the oil and gas producer’s stock worth $603,000 after purchasing an additional 3,257 shares during the period. American Financial Group Inc. grew its position in Delek Logistics Partners by 3.0% during the 4th quarter. American Financial Group Inc. now owns 17,000 shares of the oil and gas producer’s stock worth $759,000 after purchasing an additional 500 shares during the period. Finally, Alps Advisors Inc. raised its stake in shares of 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 buying an additional 165,741 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.