Delek Logistics Partners (NYSE:DKL) Sets New 12-Month High Following Dividend Announcement

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $49.23 and last traded at $48.84, with a volume of 29630 shares trading hands. The stock had previously closed at $48.30.

The newly announced dividend which will be paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th will be paid a $1.125 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.50 annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 144.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DKL shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, January 21st. 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. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Delek Logistics Partners presently has an average rating of “Reduce” and an average price target of $45.00.

Delek Logistics Partners Stock Performance

The business has a 50-day simple moving average of $46.24 and a 200 day simple moving average of $45.06. The company has a debt-to-equity ratio of 130.97, a current ratio of 1.03 and a quick ratio of 0.98. The firm has a market cap of $2.68 billion, a PE ratio of 16.22, a PEG ratio of 0.45 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.26). The firm had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. Equities research analysts forecast that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of DKL. Sharpepoint LLC grew its holdings in shares of Delek Logistics Partners by 1.4% in the third quarter. Sharpepoint LLC now owns 37,868 shares of the oil and gas producer’s stock valued at $1,725,000 after purchasing an additional 506 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Delek Logistics Partners by 3.2% during the third 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. lifted its position in Delek Logistics Partners by 4.7% during the third quarter. Focus Financial Network Inc. now owns 13,757 shares of the oil and gas producer’s stock valued at $626,000 after purchasing an additional 616 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 worth $52,000 after buying an additional 910 shares in the last quarter. Finally, Plan Group Financial LLC increased its holdings in shares of Delek Logistics Partners by 6.6% in the 3rd quarter. Plan Group Financial LLC now owns 16,250 shares of the oil and gas producer’s stock worth $740,000 after buying an additional 1,000 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors.

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.