StockNews.com Lowers Delek Logistics Partners (NYSE:DKL) to Hold

StockNews.com cut shares of Delek Logistics Partners (NYSE:DKL) from a buy rating to a hold rating in a research note published on Friday morning.

Several other research firms also recently commented on DKL. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research report on Friday, April 19th. They set a buy rating and a $46.00 target price for the company. Raymond James raised Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 target price on the stock in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $45.33.

Delek Logistics Partners Trading Down 0.9 %

Shares of NYSE DKL opened at $39.70 on Friday. The firm’s 50-day moving average price is $40.46 and its 200-day moving average price is $44.10. The firm has a market capitalization of $1.73 billion, a P/E ratio of 13.69 and a beta of 2.07. Delek Logistics Partners has a 1-year low of $36.50 and a 1-year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $254.15 million for the quarter, compared to analyst estimates of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. Equities research analysts forecast that Delek Logistics Partners will post 3.48 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be given a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 10.33%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, May 7th. Delek Logistics Partners’s dividend payout ratio (DPR) is presently 145.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners during the first quarter worth $66,000. Spirit of America Management Corp NY purchased a new stake in shares of Delek Logistics Partners during the fourth quarter valued at approximately $86,000. Citigroup Inc. bought a new stake in Delek Logistics Partners in the 3rd quarter worth $88,000. Fifth Third Bancorp purchased a new position in shares of Delek Logistics Partners in the third quarter valued at about $103,000. Finally, Nomura Holdings Inc. bought a new position in shares of Delek Logistics Partners during the third quarter valued at about $210,000. Hedge funds and other institutional investors own 11.75% 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.