Delek Logistics Partners (NYSE:DKL) Sees Unusually-High Trading Volume

Delek Logistics Partners, LP (NYSE:DKL) shares saw unusually-strong trading volume on Tuesday . Approximately 48,055 shares changed hands during trading, a decline of 30% from the previous session’s volume of 68,236 shares.The stock last traded at $41.02 and had previously closed at $40.84.

Analyst Ratings Changes

Separately, Raymond James upgraded shares of Delek Logistics Partners from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, March 19th.

Delek Logistics Partners Price Performance

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.12 and a beta of 2.08. The business’s fifty day simple moving average is $43.67 and its 200 day simple moving average is $44.63.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $254.15 million during the quarter, compared to analyst estimates of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. Equities research analysts expect that Delek Logistics Partners, LP will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, March 1st were issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 29th. Delek Logistics Partners’s dividend payout ratio is currently 145.52%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DKL. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 13.1% during the third quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock worth $64,306,000 after purchasing an additional 177,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Delek Logistics Partners by 245.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,826 shares of the oil and gas producer’s stock worth $20,930,000 after acquiring an additional 344,464 shares during the period. Infrastructure Capital Advisors LLC grew its stake in Delek Logistics Partners by 343.5% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock valued at $9,368,000 after purchasing an additional 172,874 shares during the period. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 15.6% during the 1st quarter. JPMorgan Chase & Co. now owns 195,800 shares of the oil and gas producer’s stock valued at $8,613,000 after purchasing an additional 26,425 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Delek Logistics Partners by 14.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 151,431 shares of the oil and gas producer’s stock worth $6,537,000 after purchasing an additional 19,500 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.