Delek Logistics Partners (NYSE:DKL) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other research firms have also recently weighed in on DKL. Raymond James raised shares of 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. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Friday, April 19th. They issued a buy rating and a $46.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of Moderate Buy and a consensus price target of $45.33.

Delek Logistics Partners Stock Performance

Shares of NYSE:DKL traded down $0.38 during trading on Friday, reaching $39.70. 127,407 shares of the stock were exchanged, compared to its average volume of 92,483. Delek Logistics Partners has a 12-month low of $36.50 and a 12-month high of $58.81. The firm’s 50-day moving average price is $40.46 and its 200 day moving average price is $44.08. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 13.69 and a beta of 2.07.

Delek Logistics Partners (NYSE:DKL) last released its quarterly 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 analysts’ expectations of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.48 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.025 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, May 7th. This represents a $4.10 annualized dividend and a dividend yield of 10.33%. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 147.59%.

Hedge Funds Weigh In On Delek Logistics Partners

Several large investors have recently modified their holdings of DKL. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners in the first quarter worth about $66,000. Spirit of America Management Corp NY acquired a new position in shares of Delek Logistics Partners during the fourth quarter valued at approximately $86,000. Citigroup Inc. acquired a new position in shares of Delek Logistics Partners during the third quarter valued at approximately $88,000. Fifth Third Bancorp acquired a new position in shares of Delek Logistics Partners during the third quarter valued at approximately $103,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Delek Logistics Partners during the third quarter valued at approximately $210,000. 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.