Delek Logistics Partners (NYSE:DKL) Hits New 52-Week High – Time to Buy?

Delek Logistics Partners, L.P. (NYSE:DKL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.68 and last traded at $53.0450, with a volume of 66987 shares. The stock had previously closed at $52.59.

Analyst Upgrades and Downgrades

DKL has been the subject of a number of recent analyst reports. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.00.

Delek Logistics Partners Stock Performance

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 0.49 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 130.97. The firm has a 50-day moving average of $47.67 and a 200-day moving average of $45.67.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Thursday, February 5th will be issued a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 8.4%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio is presently 145.63%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently bought and sold shares of DKL. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 2.5% in the third quarter. Alps Advisors Inc. now owns 4,323,382 shares of the oil and gas producer’s stock valued at $196,887,000 after purchasing an additional 104,115 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Delek Logistics Partners by 5.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 231,169 shares of the oil and gas producer’s stock valued at $9,929,000 after buying an additional 12,266 shares during the last quarter. ELCO Management Co. LLC acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at about $494,000. TT Capital Management LLC acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at about $1,270,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Delek Logistics Partners by 16.4% in the second quarter. JPMorgan Chase & Co. now owns 327,466 shares of the oil and gas producer’s stock worth $14,065,000 after buying an additional 46,069 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other 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.