Delek Logistics Partners (NYSE:DKL) Coverage Initiated at Truist Financial

Truist Financial began coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued a buy rating and a $46.00 target price on the oil and gas producer’s stock.

A number of other brokerages also recently commented on DKL. StockNews.com upgraded Delek Logistics Partners from a hold rating to a buy rating in a research report on Tuesday, April 9th. Raymond James upgraded Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price objective for the company in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $45.33.

Delek Logistics Partners Price Performance

DKL opened at $38.90 on Friday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.41 and a beta of 2.07. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81. The business has a 50 day moving average price of $41.50 and a two-hundred day moving average price of $44.30.

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

Delek Logistics Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, March 1st were given a dividend of $0.245 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 2.52%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 145.52%.

Institutional Trading of Delek Logistics Partners

Hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners in the first quarter valued at $66,000. Spirit of America Management Corp NY purchased a new stake in shares of Delek Logistics Partners in the fourth quarter valued at $86,000. Citigroup Inc. purchased a new stake in shares of Delek Logistics Partners in the third quarter valued at $88,000. Fifth Third Bancorp acquired a new position in shares of Delek Logistics Partners in the third quarter worth $103,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Delek Logistics Partners in the third quarter worth $210,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

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.