Delek Logistics Partners, L.P. (NYSE:DKL) Given Consensus Rating of “Hold” by Brokerages

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) have been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $55.25.

Several analysts recently issued reports on the company. Weiss Ratings cut Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Raymond James Financial restated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Mizuho increased their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Finally, 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 target for the company.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the second quarter valued at about $206,000. Infrastructure Capital Advisors LLC increased its stake in Delek Logistics Partners by 2.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock valued at $7,786,000 after purchasing an additional 3,596 shares in the last quarter. Gateway Wealth Partners LLC purchased a new position in shares of Delek Logistics Partners in the first quarter worth $222,000. State of Wyoming purchased a new position in shares of Delek Logistics Partners in the first quarter worth $67,000. Finally, HB Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners during the first quarter worth $216,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

Delek Logistics Partners Trading Up 1.3%

Shares of NYSE:DKL opened at $54.26 on Thursday. The stock has a 50 day moving average of $51.39 and a 200 day moving average of $50.74. The company has a market cap of $2.88 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.62 and a beta of 0.47. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 12-month low of $41.72 and a 12-month high of $55.89.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.20). The firm had revenue of $297.47 million during 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%. As a group, equities research analysts expect that Delek Logistics Partners will post 3.86 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 dividend on an annualized basis and a yield of 8.3%. Delek Logistics Partners’s dividend payout ratio is 143.04%.

About Delek Logistics Partners

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.