Delek Logistics Partners (NYSE:DKL) Coverage Initiated at Truist Financial

Truist Financial assumed coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research note released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $46.00 price target on the oil and gas producer’s stock.

Other equities analysts also recently issued research reports about the company. Raymond James raised Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price target on the stock in a research report on Tuesday, March 19th. StockNews.com raised Delek Logistics Partners from a hold rating to a buy rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $45.33.

Delek Logistics Partners Stock Up 1.2 %

Shares of Delek Logistics Partners stock opened at $38.90 on Friday. The stock’s fifty day moving average is $41.50 and its two-hundred day moving average is $44.30. The company has a market capitalization of $1.70 billion, a PE ratio of 13.41 and a beta of 2.07. Delek Logistics Partners has a 52 week low of $36.50 and a 52 week high of $58.81.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, research analysts anticipate that Delek Logistics Partners will post 3.48 earnings per share for the current year.

Delek Logistics Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, March 1st were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, February 29th. Delek Logistics Partners’s dividend payout ratio is currently 145.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DKL. Mirae Asset Global Investments Co. Ltd. grew its stake in Delek Logistics Partners by 245.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock worth $20,930,000 after buying an additional 344,464 shares during the last quarter. Alps Advisors Inc. lifted its position in Delek Logistics Partners by 13.1% during the 3rd quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after acquiring an additional 177,242 shares during the period. Infrastructure Capital Advisors LLC lifted its position in Delek Logistics Partners by 343.5% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock worth $9,368,000 after acquiring an additional 172,874 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Delek Logistics Partners during the 1st quarter worth approximately $1,722,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Delek Logistics Partners during the 3rd quarter worth approximately $492,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.