Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Delek Logistics Partners, L.P. (NYSE:DKL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.49 and traded as high as $43.79. Delek Logistics Partners shares last traded at $43.51, with a volume of 30,762 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on DKL. Weiss Ratings restated a “hold (c+)” rating on shares of Delek Logistics Partners in a research report on Wednesday, October 8th. Mizuho raised their price objective on shares of Delek Logistics Partners from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Delek Logistics Partners Stock Performance

The firm’s 50-day moving average price is $44.15 and its 200 day moving average price is $42.49. The company has a debt-to-equity ratio of 69.13, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.97 and a beta of 0.59.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Delek Logistics Partners had a net margin of 16.58% and a return on equity of 1,224.47%. The company had revenue of $246.35 million during the quarter, compared to analysts’ expectations of $289.07 million. On average, sell-side analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 8th were issued a dividend of $1.115 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.11. This represents a $4.46 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date was Friday, August 8th. Delek Logistics Partners’s dividend payout ratio is presently 151.19%.

Insider Transactions at Delek Logistics Partners

In related news, Director Charles J. Brown III sold 1,134 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $42.91, for a total transaction of $48,659.94. Following the completion of the transaction, the director owned 17,971 shares in the company, valued at approximately $771,135.61. The trade was a 5.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,384 shares of company stock worth $104,910 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DKL. BNP Paribas Financial Markets acquired a new position in Delek Logistics Partners during the second quarter valued at approximately $50,000. Jones Financial Companies Lllp grew its holdings in 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 valued at $52,000 after purchasing an additional 910 shares during the period. SVB Wealth LLC acquired a new position in Delek Logistics Partners during the first quarter valued at approximately $53,000. Farther Finance Advisors LLC lifted its stake in Delek Logistics Partners by 92.8% in the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 1,100 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in 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 valued at $115,000 after buying an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.