Delek Logistics Partners (NYSE:DKL) Sees Strong Trading Volume – Time to Buy?

Delek Logistics Partners, L.P. (NYSE:DKL) shares saw an uptick in trading volume on Friday . 79,535 shares were traded during trading, a decline of 12% from the previous session’s volume of 90,510 shares.The stock last traded at $54.97 and had previously closed at $54.94.

Analysts Set New Price Targets

DKL has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Raymond James Financial reissued an “outperform” rating and set a $60.00 price objective on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, UBS Group started coverage on Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.40.

Delek Logistics Partners Trading Up 0.9%

The business has a fifty day moving average of $54.75 and a 200-day moving average of $52.85. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $3.17 billion, a P/E ratio of 19.31 and a beta of 0.46.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. The business had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 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, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.135 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.2%. Delek Logistics Partners’s payout ratio is presently 158.19%.

Insider Buying and Selling

In related news, Chairman Ezra Uzi Yemin acquired 6,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $50.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the chairman directly owned 168,217 shares in the company, valued at $8,410,850. This trade represents a 3.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert G. Wright acquired 1,500 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the executive vice president owned 7,994 shares of the company’s stock, valued at approximately $399,700. The trade was a 23.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 15,000 shares of company stock worth $750,000 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Delek Logistics Partners by 24.4% during the second 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 buying an additional 298,867 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 3.8% during 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 acquiring an additional 165,741 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock worth $8,935,000 after acquiring an additional 62,267 shares during the last quarter. HRT Financial LP grew its stake in shares of Delek Logistics Partners by 278.3% in the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after acquiring an additional 54,959 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Delek Logistics Partners by 30.8% in the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock worth $8,806,000 after acquiring an additional 48,284 shares in the last quarter. Hedge funds and other 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.