Delek Logistics Partners (NYSE:DKL) Shares Gap Down – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $50.28, but opened at $47.72. Delek Logistics Partners shares last traded at $49.71, with a volume of 15,137 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup restated a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Weiss Ratings upgraded Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Zacks Research cut Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 price target on shares of Delek Logistics Partners in a research report on Thursday, March 5th. Finally, Truist Financial began coverage on shares of Delek Logistics Partners in a report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Delek Logistics Partners has an average rating of “Hold” and a consensus target price of $52.25.

Delek Logistics Partners Trading Down 1.5%

The business has a 50 day simple moving average of $52.58 and a 200-day simple moving average of $47.97. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.55 and a beta of 0.54. 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 (NYSE:DKL) last released its quarterly earnings results on Friday, February 27th. The oil and gas producer reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.38). Delek Logistics Partners had a return on equity of 461.30% and a net margin of 17.41%.The business had revenue of $255.77 million for the quarter, compared to analyst estimates of $283.64 million. As a group, equities analysts expect that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a dividend of $1.125 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Thursday, February 5th. This represents a $4.50 annualized dividend and a yield of 9.1%. Delek Logistics Partners’s dividend payout ratio is 136.78%.

Institutional Investors Weigh In On Delek Logistics Partners

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Delek Logistics Partners during the second quarter worth $50,000. Jones Financial Companies Lllp increased its holdings in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 910 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Delek Logistics Partners by 92.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 1,100 shares during the period. Osaic Holdings Inc. boosted its position in Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after acquiring an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Delek Logistics Partners by 1,186.5% during the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares during the period. 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.