Delek Logistics Partners (NYSE:DKL) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.20 and traded as low as $49.02. Delek Logistics Partners shares last traded at $49.8040, with a volume of 141,823 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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 target on the stock. Zacks Research raised shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research note on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $60.00 target price on shares of Delek Logistics Partners in a report on Thursday, April 30th. Citigroup reissued a “neutral” rating and issued a $52.00 price target (up from $47.00) on shares of Delek Logistics Partners in a research note on Friday, March 6th. Finally, Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.25.

Delek Logistics Partners Stock Down 1.2%

The business has a 50 day simple moving average of $50.94 and a 200 day simple moving average of $50.25. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.58 and a beta of 0.47. The company has a debt-to-equity ratio of 386.77, a current ratio of 0.96 and a quick ratio of 0.92.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.20). Delek Logistics Partners had a return on equity of 1,917.10% and a net margin of 16.00%.The business had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $239.87 million. As a group, equities analysts predict that Delek Logistics Partners, L.P. will post 3.86 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $1.13 per share. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date was Monday, May 4th. This represents a $4.52 dividend on an annualized basis and a yield of 9.2%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 143.04%.

Institutional Trading of Delek Logistics Partners

A number of large investors have recently modified their holdings of DKL. Infrastructure Capital Advisors LLC boosted its holdings in Delek Logistics Partners by 2.4% in the first 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 during the period. Gateway Wealth Partners LLC purchased a new position in shares of Delek Logistics Partners in the 1st quarter valued at about $222,000. State of Wyoming acquired a new position in shares of Delek Logistics Partners during the first quarter worth about $67,000. HB Wealth Management LLC acquired a new position in shares of Delek Logistics Partners during the first quarter worth about $216,000. Finally, Castellan Group increased its stake in shares of Delek Logistics Partners by 7.6% during the first quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock worth $4,536,000 after buying an additional 6,430 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.