Delek Logistics Partners, L.P. (NYSE:DKL) Given Average Rating of “Hold” by Analysts

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been given an average rating of “Hold” by the seven brokerages that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $55.60.

A number of brokerages recently issued reports on DKL. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. UBS Group increased their price objective on Delek Logistics Partners from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Zacks Research upgraded Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th.

Insiders Place Their Bets

In related news, Chairman Ezra Yemin purchased 6,000 shares of Delek Logistics Partners 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 $300,000.00. Following the completion of the transaction, the chairman directly owned 168,217 shares of the company’s stock, valued at $8,410,850. This represents a 3.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Reuven Spiegel purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the executive vice president owned 29,549 shares of the company’s stock, valued at $1,477,450. This represents a 3.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 15,000 shares of company stock valued at $750,000 over the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. NEOS Investment Management LLC boosted its position in shares of Delek Logistics Partners by 56.0% during the second quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after purchasing an additional 62,267 shares in the last quarter. Pinnacle Holdings LLC bought a new position in Delek Logistics Partners in the second quarter worth $1,703,000. Alps Advisors Inc. raised its holdings in Delek Logistics Partners by 3.8% in the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after purchasing an additional 165,741 shares in the last quarter. Sharpepoint LLC lifted its position in Delek Logistics Partners by 4.2% during the fourth quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock valued at $1,760,000 after buying an additional 1,575 shares during the period. Finally, Focus Financial Network Inc. boosted its holdings in shares of Delek Logistics Partners by 2.2% during the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock valued at $707,000 after buying an additional 300 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Price Performance

Shares of Delek Logistics Partners stock opened at $55.68 on Tuesday. The company’s fifty day simple moving average is $56.19 and its two-hundred day simple moving average is $53.14. Delek Logistics Partners has a 12-month low of $42.35 and a 12-month high of $61.50. The firm has a market cap of $3.18 billion, a PE ratio of 19.40 and a beta of 0.44. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data 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). The firm had revenue of $384.76 million for the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. As a group, equities analysts expect that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

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

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.