Delek Logistics Partners (NYSE:DKL) Sees Large Volume Increase – What’s Next?

Delek Logistics Partners, L.P. (NYSE:DKL) shares saw strong trading volume on Friday . 187,618 shares changed hands during trading, an increase of 120% from the previous session’s volume of 85,173 shares.The stock last traded at $53.3290 and had previously closed at $52.30.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DKL shares. Zacks Research raised Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Mizuho upped 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Delek Logistics Partners in a research report on Friday, August 7th. Raymond James Financial reissued an “outperform” rating and set a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Finally, UBS Group initiated coverage on Delek Logistics Partners in a report on Thursday, July 16th. They set a “neutral” rating and a $56.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.40.

Delek Logistics Partners Price Performance

The stock has a market cap of $2.86 billion, a P/E ratio of 18.72, a P/E/G ratio of 0.62 and a beta of 0.46. The company’s 50 day moving average price is $54.27 and its 200-day moving average price is $52.64. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 negative return on equity of 935.80% and a net margin of 12.85%. As a group, sell-side analysts expect that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $1.135 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, August 3rd. This represents a $4.54 dividend on an annualized basis and a dividend yield of 8.5%. Delek Logistics Partners’s dividend payout ratio is presently 158.19%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new stake in Delek Logistics Partners in the second quarter valued at approximately $50,000. Jones Financial Companies Lllp increased its position in Delek Logistics Partners by 303.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock valued at $52,000 after purchasing an additional 910 shares during the period. State of Wyoming bought a new position in Delek Logistics Partners during the 1st quarter worth approximately $67,000. Osaic Holdings Inc. raised its holdings in 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 worth $115,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after purchasing an additional 3,868 shares during the period. 11.75% of the stock is currently owned by institutional investors.

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.