Bank of America Begins Coverage on Delek Logistics Partners (NYSE:DKL)

Bank of America initiated coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research report report published on Thursday, Marketbeat.com reports. The firm issued an underperform rating and a $36.00 target price on the oil and gas producer’s stock.

Several other analysts also recently weighed in on DKL. StockNews.com downgraded shares of Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, Delek Logistics Partners has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Delek Logistics Partners Stock Performance

Delek Logistics Partners stock opened at $38.67 on Thursday. Delek Logistics Partners has a fifty-two week low of $37.02 and a fifty-two week high of $53.80. The firm has a 50 day moving average price of $41.13 and a 200 day moving average price of $40.21. The company has a market capitalization of $1.83 billion, a PE ratio of 13.96 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The firm had revenue of $264.63 million during the quarter, compared to the consensus estimate of $257.17 million. During the same quarter last year, the firm earned $0.73 EPS. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.41 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were paid a $1.09 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.36 annualized dividend and a dividend yield of 11.27%. Delek Logistics Partners’s payout ratio is 157.40%.

Insiders Place Their Bets

In other Delek Logistics Partners news, President Avigal Soreq purchased 2,563 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Avigal Soreq bought 2,563 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the completion of the purchase, the president now owns 46,758 shares in the company, valued at approximately $1,823,562. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherri Anne Brillon bought 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $39.00 per share, with a total value of $78,000.00. Following the purchase, the director now owns 11,433 shares of the company’s stock, valued at approximately $445,887. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 12,934 shares of company stock worth $504,348 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Delek Logistics Partners by 205.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after acquiring an additional 997,860 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after acquiring an additional 484,571 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Delek Logistics Partners in the first quarter valued at $12,656,000. Kayne Anderson Capital Advisors LP purchased a new stake in Delek Logistics Partners in the first quarter valued at $10,304,000. Finally, GSA Capital Partners LLP lifted its position in Delek Logistics Partners by 263.8% in the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after acquiring an additional 27,217 shares during the last quarter. 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.