Analysts Set Delek Logistics Partners, L.P. (NYSE:DKL) Price Target at $55.40

Delek Logistics Partners, L.P. (NYSE:DKL) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $55.40.

Several equities research analysts have recently commented on the company. Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. UBS Group began coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 target price on the stock. Finally, Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st.

Delek Logistics Partners Price Performance

Shares of NYSE DKL opened at $55.33 on Friday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 19.28 and a beta of 0.44. The firm’s 50-day moving average price is $55.32 and its 200-day moving average price is $52.91. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 1-year low of $42.35 and a 1-year high of $61.50.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Equities research analysts anticipate that Delek Logistics Partners will post 3.94 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.135 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s dividend payout ratio is 158.19%.

Insider Activity

In other Delek Logistics Partners news, President Avigal Soreq bought 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $50.00 per share, for a total transaction of $125,000.00. Following the acquisition, the president directly owned 84,782 shares of the company’s stock, valued at approximately $4,239,100. The trade was a 3.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Wright bought 1,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $50.00 per share, for a total transaction of $75,000.00. Following the acquisition, the executive vice president directly owned 7,994 shares in the company, valued at $399,700. The trade was a 23.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 15,000 shares of company stock valued at $750,000. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Delek Logistics Partners during the 2nd quarter valued at $50,000. Jones Financial Companies Lllp boosted its holdings 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 during the last quarter. State of Wyoming bought a new position in Delek Logistics Partners during the first quarter valued at about $67,000. Osaic Holdings Inc. grew its position in Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after buying an additional 1,910 shares during the period. Finally, Bank of America Corp DE increased its holdings in Delek Logistics Partners by 1,186.5% during the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after buying an additional 3,868 shares during the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.