Delek Logistics Partners (NYSE:DKL) Share Price Passes Above 200 Day Moving Average – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.32 and traded as high as $43.00. Delek Logistics Partners shares last traded at $42.80, with a volume of 42,793 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Delek Logistics Partners has an average rating of “Hold” and a consensus price target of $44.25.

Delek Logistics Partners Stock Up 1.0%

The company has a market cap of $2.29 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.96 and a beta of 0.76. The company has a debt-to-equity ratio of 22.02, a quick ratio of 1.52 and a current ratio of 1.61. The stock’s fifty day moving average is $40.96 and its two-hundred day moving average is $41.32.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. Delek Logistics Partners had a negative return on equity of 1,782.51% and a net margin of 15.88%. The firm had revenue of $249.93 million during the quarter, compared to the consensus estimate of $237.17 million. Sell-side analysts predict that Delek Logistics Partners, L.P. will post 3.01 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a dividend of $1.11 per share. The ex-dividend date was Thursday, May 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.11. This represents a $4.44 annualized dividend and a yield of 10.37%. Delek Logistics Partners’s dividend payout ratio (DPR) is 148.49%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of DKL. Alps Advisors Inc. boosted its position in Delek Logistics Partners by 31.3% in the first quarter. Alps Advisors Inc. now owns 4,316,269 shares of the oil and gas producer’s stock worth $186,722,000 after purchasing an additional 1,028,497 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Delek Logistics Partners during the 4th quarter worth $17,819,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Delek Logistics Partners by 42.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 969,982 shares of the oil and gas producer’s stock worth $40,991,000 after purchasing an additional 288,033 shares during the period. Cohen & Steers Inc. purchased a new position in shares of Delek Logistics Partners in the 4th quarter worth about $11,805,000. Finally, Westwood Holdings Group Inc. grew its position in Delek Logistics Partners by 187.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 273,220 shares of the oil and gas producer’s stock valued at $11,546,000 after buying an additional 178,324 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.