Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.49 and traded as high as $43.79. Delek Logistics Partners shares last traded at $43.51, with a volume of 30,762 shares changing hands.

Analysts Set New Price Targets

DKL has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Delek Logistics Partners in a report on Wednesday, October 8th. Mizuho raised their price objective on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Delek Logistics Partners presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Delek Logistics Partners Stock Up 0.5%

The stock has a market capitalization of $2.33 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.97 and a beta of 0.59. The firm’s fifty day moving average is $44.15 and its 200-day moving average is $42.49. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 69.13.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The firm had revenue of $246.35 million during the quarter, compared to the consensus estimate of $289.07 million. As a group, equities research analysts predict that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 8th were issued a dividend of $1.115 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $4.46 annualized dividend and a yield of 10.3%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.11. Delek Logistics Partners’s payout ratio is 151.19%.

Insider Transactions at Delek Logistics Partners

In related news, Director Charles J. Brown III sold 1,134 shares of Delek Logistics Partners stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total transaction of $48,659.94. Following the completion of the transaction, the director directly owned 17,971 shares of the company’s stock, valued at $771,135.61. This trade represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 2,384 shares of company stock worth $104,910. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in Delek Logistics Partners by 3.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,819 shares of the oil and gas producer’s stock valued at $857,000 after purchasing an additional 588 shares during the last quarter. Focus Financial Network Inc. increased its position in Delek Logistics Partners by 4.7% in the 3rd quarter. Focus Financial Network Inc. now owns 13,757 shares of the oil and gas producer’s stock valued at $626,000 after acquiring an additional 616 shares in the last quarter. Jones Financial Companies Lllp increased its position in Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after acquiring an additional 910 shares in the last quarter. Farther Finance Advisors LLC increased its position in 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 in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners in the 2nd quarter valued at about $50,000. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Company Profile

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.