Delek Logistics Partners (NYSE:DKL) Price Target Raised to $57.00

Delek Logistics Partners (NYSE:DKL) had its price target lifted by UBS Group from $55.00 to $57.00 in a research report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other analysts also recently issued reports on DKL. Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings downgraded Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Delek Logistics Partners presently has an average rating of “Hold” and an average price target of $55.60.

Delek Logistics Partners Price Performance

Shares of DKL opened at $54.87 on Monday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.12 and a beta of 0.44. The firm’s fifty day simple moving average is $56.15 and its 200-day simple moving average is $53.16. Delek Logistics Partners has a twelve month low of $42.35 and a twelve month high of $61.50. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The firm had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. Equities analysts forecast that Delek Logistics Partners will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.135 per share. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.3%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, August 3rd. Delek Logistics Partners’s payout ratio is presently 158.19%.

Insider Buying and Selling at Delek Logistics Partners

In other news, EVP Reuven Spiegel bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $50.00 per share, with a total value of $50,000.00. Following the transaction, the executive vice president directly owned 29,549 shares in the company, valued at $1,477,450. This trade represents a 3.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Hobbs purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $200,000.00. Following the purchase, the executive vice president directly owned 24,125 shares in the company, valued at $1,206,250. The trade was a 19.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 15,000 shares of company stock valued at $750,000. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Financial Network Inc. raised its holdings in Delek Logistics Partners by 2.2% during the second quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after purchasing an additional 300 shares in the last quarter. State of Wyoming purchased a new stake in shares of Delek Logistics Partners during the 1st quarter worth $67,000. Sharpepoint LLC grew its stake in shares of Delek Logistics Partners by 4.2% during the 4th quarter. Sharpepoint LLC now owns 39,443 shares of the oil and gas producer’s stock worth $1,760,000 after purchasing an additional 1,575 shares during the period. Tidal Investments LLC increased its holdings in shares of Delek Logistics Partners by 60.9% in the 2nd quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock valued at $379,000 after purchasing an additional 2,786 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC boosted its holdings in Delek Logistics Partners by 2.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after buying an additional 3,596 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.