Delek Logistics Partners, L.P. (NYSE:DKL) Stock Has Average Price Target of $55.60

Delek Logistics Partners, L.P. (NYSE:DKL) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $55.60.

A number of research firms recently weighed in on DKL. Zacks Research lowered shares of Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, UBS Group boosted their price target on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 21st.

Delek Logistics Partners Trading Down 0.2%

Shares of DKL opened at $53.06 on Wednesday. The business’s 50-day moving average price is $55.54 and its 200-day moving average price is $53.45. Delek Logistics Partners has a twelve month low of $43.12 and a twelve month high of $61.50. The stock has a market cap of $3.03 billion, a PE ratio of 18.49 and a beta of 0.43. The company has a quick ratio of 0.91, a current ratio of 0.85 and a debt-to-equity ratio of 15.37.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Friday, November 6th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.12). Delek Logistics Partners had a return on equity of 1,108.40% and a net margin of 11.90%. The firm had revenue of $372.44 million during the quarter, compared to analysts’ expectations of $355.44 million. On average, equities analysts forecast that Delek Logistics Partners will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Tuesday, November 3rd were given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.1350. The ex-dividend date was Tuesday, November 3rd. Delek Logistics Partners’s dividend payout ratio (DPR) is 158.89%.

Insider Buying and Selling

In other Delek Logistics Partners news, EVP Robert G. Wright bought 1,500 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the executive vice president directly owned 7,994 shares in the company, valued at $399,700. This represents a 23.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Hobbs acquired 4,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, with a total value of $200,000.00. Following the acquisition, the executive vice president directly owned 24,125 shares of the company’s stock, valued at $1,206,250. This represents a 19.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 15,000 shares of company stock valued at $750,000 in the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in shares of Delek Logistics Partners by 28.5% in the 3rd quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer’s stock worth $299,831,000 after purchasing an additional 1,250,721 shares in the last quarter. NEOS Investment Management LLC raised its holdings in shares of Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after buying an additional 62,267 shares in the last quarter. Infrastructure Capital Advisors LLC raised its holdings in shares of Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after buying an additional 3,596 shares in the last quarter. Adams Asset Advisors LLC raised its holdings in shares of Delek Logistics Partners by 5.2% during the 3rd quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock valued at $3,936,000 after buying an additional 3,675 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new stake in Delek Logistics Partners in the 2nd quarter worth approximately $1,703,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.