Delek Logistics Partners (NYSE:DKL) Hits New 12-Month High – Should You Buy?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $55.89 and last traded at $55.4450, with a volume of 19173 shares trading hands. The stock had previously closed at $55.31.

Wall Street Analysts Forecast Growth

DKL has been the topic of a number of research analyst reports. Mizuho lifted their target price on Delek Logistics Partners from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Raymond James Financial reissued an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a report on Thursday, April 30th. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Truist Financial initiated coverage on shares of Delek Logistics Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $57.00 price objective on the stock. 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 research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.25.

Delek Logistics Partners Stock Performance

The firm’s fifty day simple moving average is $51.60 and its 200 day simple moving average is $51.01. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.64 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 released 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). The firm had revenue of $297.47 million for the quarter, compared to analyst estimates of $239.87 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. On average, sell-side analysts forecast that Delek Logistics Partners, L.P. will post 3.86 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a $1.13 dividend. The ex-dividend date was Monday, May 4th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.12. This represents a $4.52 dividend on an annualized basis and a dividend yield of 8.2%. Delek Logistics Partners’s dividend payout ratio is currently 143.04%.

Institutional Trading of Delek Logistics Partners

Several hedge funds and other institutional investors have recently modified their holdings of DKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Delek Logistics Partners by 24.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,523,062 shares of the oil and gas producer’s stock valued at $65,416,000 after buying an additional 298,867 shares in the last quarter. Alps Advisors Inc. lifted its stake in Delek Logistics Partners by 3.8% in the 4th quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock worth $200,305,000 after acquiring an additional 165,741 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Delek Logistics Partners by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 426,966 shares of the oil and gas producer’s stock worth $19,444,000 after acquiring an additional 99,500 shares during the period. HRT Financial LP boosted its position in Delek Logistics Partners by 278.3% during the 2nd quarter. HRT Financial LP now owns 74,704 shares of the oil and gas producer’s stock worth $3,208,000 after acquiring an additional 54,959 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Delek Logistics Partners by 30.8% during the 2nd quarter. Raymond James Financial Inc. now owns 205,036 shares of the oil and gas producer’s stock valued at $8,806,000 after acquiring an additional 48,284 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About Delek Logistics Partners

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.