Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.44 and traded as high as $51.89. Delek Logistics Partners shares last traded at $51.6920, with a volume of 41,667 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DKL shares. Raymond James Financial reiterated an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research report on Thursday, April 30th. Weiss Ratings cut shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Truist Financial assumed coverage on shares of Delek Logistics Partners in a research report on Tuesday, March 24th. They set a “hold” rating and a $57.00 price objective for the company. Mizuho increased their price objective on shares of Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Delek Logistics Partners in a research report on Friday, March 6th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.25.

Delek Logistics Partners Price Performance

The company has a 50-day moving average of $51.18 and a 200 day moving average of $50.49. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 386.77. The stock has a market capitalization of $2.78 billion, a PE ratio of 16.52, a PEG ratio of 0.60 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data 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). Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. The firm had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $239.87 million. Sell-side analysts predict that Delek Logistics Partners, L.P. will post 3.86 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.52 annualized dividend and a yield of 8.7%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. Delek Logistics Partners’s dividend payout ratio is currently 143.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DKL. BNP Paribas Financial Markets purchased a new position in Delek Logistics Partners during the second quarter worth approximately $50,000. Jones Financial Companies Lllp increased its stake in shares of Delek Logistics Partners by 303.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after acquiring an additional 910 shares during the last quarter. State of Wyoming purchased a new position in shares of Delek Logistics Partners during the 1st quarter worth $67,000. Osaic Holdings Inc. boosted its position in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings 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 valued at $180,000 after purchasing an additional 3,868 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.