Delek Logistics Partners, L.P. (NYSE:DKL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have received a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $55.25.

Several brokerages have weighed in on DKL. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Mizuho lifted their target price on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Zacks Research raised shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Truist Financial assumed coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock.

Delek Logistics Partners Stock Up 1.3%

Shares of NYSE DKL opened at $54.26 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. The business has a 50-day moving average of $51.39 and a 200-day moving average of $50.74. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.62 and a beta of 0.47. Delek Logistics Partners has a 12 month low of $41.72 and a 12 month high of $55.89.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%.The company had revenue of $297.47 million for the quarter, compared to the consensus estimate of $239.87 million. Sell-side analysts expect that Delek Logistics Partners will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a $1.13 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 annualized dividend and a dividend yield of 8.3%. Delek Logistics Partners’s payout ratio is 143.04%.

Institutional Trading of Delek Logistics Partners

Several large investors have recently added to or reduced their stakes in DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Delek Logistics Partners by 24.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after acquiring an additional 298,867 shares during the period. Alps Advisors Inc. raised its position in Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after buying an additional 165,741 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Delek Logistics Partners by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock valued at $19,444,000 after purchasing an additional 99,500 shares during the period. HRT Financial LP lifted its holdings in shares of Delek Logistics Partners by 278.3% during the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock valued at $3,208,000 after buying an additional 54,959 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in Delek Logistics Partners by 30.8% in the second quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after acquiring an additional 48,284 shares during the period. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

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.