Delek Logistics Partners (NYSE:DKL) Upgraded to Hold at UBS Group

UBS Group upgraded shares of Delek Logistics Partners (NYSE:DKL) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Truist Financial began coverage on shares of Delek Logistics Partners in a research note on Tuesday, March 24th. They set a “hold” rating and a $57.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Weiss Ratings cut Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Mizuho boosted their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.40.

Delek Logistics Partners Price Performance

Delek Logistics Partners stock opened at $54.90 on Thursday. Delek Logistics Partners has a 1 year low of $41.72 and a 1 year high of $56.83. The firm has a 50 day moving average price of $51.88 and a 200 day moving average price of $51.19. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.65 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.92 and a current ratio of 0.96.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). The company had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%. Sell-side analysts predict that Delek Logistics Partners will post 3.86 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a $1.13 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 8.2%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s payout ratio is 143.04%.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in Delek Logistics Partners in the 2nd quarter valued at $50,000. Jones Financial Companies Lllp lifted its stake in shares of Delek Logistics Partners by 303.3% during the first 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. State of Wyoming acquired a new position in shares of Delek Logistics Partners during the first quarter worth about $67,000. Osaic Holdings Inc. boosted its position in shares of Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 1,910 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Delek Logistics Partners by 1,186.5% in 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 buying an additional 3,868 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

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.