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

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

Other equities research analysts also recently issued research reports about the company. Raymond James raised Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price target for the company in a report on Tuesday, March 19th. Truist Financial began coverage on shares of Delek Logistics Partners in a research report on Friday, April 19th. They set a buy rating and a $46.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $45.33.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock opened at $39.70 on Friday. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81. The company has a market capitalization of $1.73 billion, a PE ratio of 13.69 and a beta of 2.07. The company has a 50-day simple moving average of $40.46 and a two-hundred day simple moving average of $44.10.

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 (EPS) for the quarter, hitting the consensus estimate of $0.85. Delek Logistics Partners had a net margin of 12.37% and a negative return on equity of 102.99%. The business had revenue of $254.15 million for the quarter, compared to analyst estimates of $272.51 million. On average, equities analysts predict that Delek Logistics Partners will post 3.48 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be issued a dividend of $1.025 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 10.33%. Delek Logistics Partners’s payout ratio is 145.52%.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently bought and sold shares of DKL. Thoroughbred Financial Services LLC lifted its stake in Delek Logistics Partners by 9.6% during the 4th quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock valued at $318,000 after acquiring an additional 648 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Delek Logistics Partners by 12.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,500 shares of the oil and gas producer’s stock valued at $496,000 after purchasing an additional 1,289 shares during the last quarter. Tortoise Index Solutions LLC grew its position in Delek Logistics Partners by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 11,527 shares of the oil and gas producer’s stock worth $498,000 after purchasing an additional 1,316 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Delek Logistics Partners during the 1st quarter valued at about $66,000. Finally, Spirit of America Management Corp NY acquired a new position in shares of Delek Logistics Partners in the 4th quarter valued at about $86,000. Institutional investors and hedge funds 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.