Delek Logistics Partners (NYSE:DKL) Cut to Sell at StockNews.com

StockNews.com lowered shares of Delek Logistics Partners (NYSE:DKL) from a hold rating to a sell rating in a research note published on Thursday morning.

Separately, Raymond James increased their price target on Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.25.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $37.56 on Thursday. The stock’s fifty day moving average price is $39.96 and its two-hundred day moving average price is $40.64. The company has a market cap of $2.02 billion, a PE ratio of 13.32, a P/E/G ratio of 1.28 and a beta of 0.81. Delek Logistics Partners has a fifty-two week low of $34.59 and a fifty-two week high of $45.71.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The firm had revenue of $249.93 million for the quarter, compared to analyst estimates of $237.17 million. On average, equities analysts predict that Delek Logistics Partners will post 3.01 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 11.82%. The ex-dividend date is Thursday, May 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s dividend payout ratio is 148.49%.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in DKL. Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 31.3% during the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer’s stock valued at $186,722,000 after buying an additional 1,028,497 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Delek Logistics Partners by 42.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer’s stock valued at $40,991,000 after acquiring an additional 288,033 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after purchasing an additional 464,343 shares during the period. Bank of Montreal Can purchased a new position in Delek Logistics Partners in the fourth quarter valued at approximately $17,819,000. Finally, ING Groep NV grew its holdings in Delek Logistics Partners by 2,491.7% during the fourth quarter. ING Groep NV now owns 311,000 shares of the oil and gas producer’s stock valued at $13,143,000 after purchasing an additional 299,000 shares during the period. Institutional investors and hedge funds 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.