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

Delek Logistics Partners, L.P. (NYSE:DKL) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $50.6667.

DKL has been the subject of a number of research reports. Zacks Research lowered shares of Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Raymond James Financial restated an “outperform” rating and set a $55.00 price target on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Finally, Citigroup reaffirmed a “neutral” rating and set a $52.00 price objective (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th.

Delek Logistics Partners Stock Performance

Shares of NYSE:DKL opened at $53.02 on Friday. The company has a debt-to-equity ratio of 386.77, a current ratio of 1.12 and a quick ratio of 1.07. Delek Logistics Partners has a 1 year low of $34.59 and a 1 year high of $55.89. The firm has a market capitalization of $2.84 billion, a PE ratio of 16.12, a P/E/G ratio of 0.50 and a beta of 0.51. The business’s 50 day moving average price is $51.04 and its 200-day moving average price is $46.98.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.38). The firm had revenue of $255.77 million during the quarter, compared to analyst estimates of $283.64 million. Delek Logistics Partners had a net margin of 17.41% and a return on equity of 461.30%. As a group, equities research analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were given a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a dividend yield of 8.5%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, February 5th. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 136.78%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently added to or reduced their stakes in DKL. Jones Financial Companies Lllp lifted its position in Delek Logistics Partners by 303.3% during the first 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 in the last quarter. Westwood Holdings Group Inc. grew its holdings in Delek Logistics Partners by 5.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 231,169 shares of the oil and gas producer’s stock valued at $9,929,000 after buying an additional 12,266 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Delek Logistics Partners by 16.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 327,466 shares of the oil and gas producer’s stock worth $14,065,000 after acquiring an additional 46,069 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Delek Logistics Partners in the 2nd quarter worth $207,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Delek Logistics Partners by 24.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock worth $65,416,000 after acquiring an additional 298,867 shares during the period. 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.