Delek Logistics Partners (NYSE:DKL) Stock Price Down 4.3% – Here’s Why

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price fell 4.3% during mid-day trading on Monday . The stock traded as low as $57.89 and last traded at $57.7260. 31,272 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 72,531 shares. The stock had previously closed at $60.31.

Analyst Ratings Changes

A number of research firms recently commented on DKL. UBS Group initiated coverage on shares of Delek Logistics Partners in a research report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price objective for the company. Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 12th. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Mizuho increased their price target on Delek Logistics Partners from $45.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Finally, 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. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.40.

Delek Logistics Partners Trading Down 0.0%

The firm has a 50-day moving average of $53.35 and a two-hundred day moving average of $52.17. The firm has a market capitalization of $3.08 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.63 and a beta of 0.46. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The business had revenue of $384.76 million during the quarter, compared to the consensus estimate of $293.64 million. Delek Logistics Partners had a net margin of 16.00% and a return on equity of 1,917.10%. On average, analysts anticipate that Delek Logistics Partners, L.P. will post 4.12 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a dividend of $1.135 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.54 dividend on an annualized basis and a yield of 7.8%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. Delek Logistics Partners’s dividend payout ratio is currently 143.67%.

Institutional Trading of Delek Logistics Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of Delek Logistics Partners during the fourth quarter worth $1,054,000. PFG Investments LLC grew its position in Delek Logistics Partners by 50.9% during the 4th quarter. PFG Investments LLC now owns 33,650 shares of the oil and gas producer’s stock worth $1,501,000 after acquiring an additional 11,350 shares during the last quarter. Alps Advisors Inc. increased its holdings 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 purchasing an additional 165,741 shares in the last quarter. Independent Advisor Alliance raised its position in Delek Logistics Partners by 119.3% in the fourth quarter. Independent Advisor Alliance now owns 12,453 shares of the oil and gas producer’s stock valued at $556,000 after purchasing an additional 6,774 shares during the last quarter. Finally, State of Wyoming bought a new position in Delek Logistics Partners in the second quarter valued at about $318,000. 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.