Delek Logistics Partners (NYSE:DKL) Issues Earnings Results

Delek Logistics Partners (NYSE:DKL) released its quarterly earnings results on Tuesday. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06), Zacks reports. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%.

Delek Logistics Partners Trading Up 2.8 %

Shares of DKL opened at $41.13 on Tuesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.28 and a beta of 2.10. Delek Logistics Partners has a 1-year low of $37.02 and a 1-year high of $46.50. The business’s 50-day moving average price is $42.24 and its 200 day moving average price is $40.95.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th were issued a dividend of $1.105 per share. This represents a $4.42 annualized dividend and a dividend yield of 10.75%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.10. The ex-dividend date was Tuesday, February 4th. Delek Logistics Partners’s dividend payout ratio is currently 156.74%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial boosted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Raymond James boosted their target price on shares of Delek Logistics Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Delek Logistics Partners presently has a consensus rating of “Hold” and an average target price of $44.25.

Insider Activity

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin bought 3,750 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the acquisition, the chairman now directly owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

About Delek Logistics Partners

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.