Delek Logistics Partners, L.P. (NYSE:DKL) Stock Now Rated “Hold” by Wall Street Brokerages

Delek Logistics Partners, L.P. (NYSE:DKL) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $55.60.

DKL has been the topic of several research reports. Zacks Research cut Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. UBS Group upped their price target on shares of Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. Finally, Weiss Ratings downgraded shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th.

Insider Buying and Selling at Delek Logistics Partners

In related news, President Avigal Soreq bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $50.00 per share, with a total value of $125,000.00. Following the acquisition, the president owned 84,782 shares in the company, valued at $4,239,100. This trade represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert G. Wright purchased 1,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $50.00 per share, with a total value of $75,000.00. Following the acquisition, the executive vice president directly owned 7,994 shares of the company’s stock, valued at $399,700. This trade represents a 23.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 15,000 shares of company stock worth $750,000. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted 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 purchasing an additional 165,741 shares during the period. NEOS Investment Management LLC raised its position in shares of Delek Logistics Partners by 56.0% during the second quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock valued at $8,935,000 after buying an additional 62,267 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Delek Logistics Partners during the second quarter valued at approximately $1,703,000. Castellan Group lifted its holdings in shares of Delek Logistics Partners by 7.6% in 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 in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Delek Logistics Partners by 91.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 10,782 shares of the oil and gas producer’s stock worth $537,000 after buying an additional 5,141 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Performance

Shares of DKL stock opened at $53.56 on Tuesday. The company has a 50 day moving average price of $56.06 and a 200-day moving average price of $53.20. Delek Logistics Partners has a 52 week low of $42.35 and a 52 week high of $61.50. The firm has a market capitalization of $3.06 billion, a PE ratio of 18.66 and a beta of 0.44. 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 released 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 company had revenue of $384.76 million for the quarter, compared to analysts’ expectations of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. As a group, equities research analysts expect that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $1.1350 dividend. The ex-dividend date was Monday, August 3rd. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a yield of 8.5%. Delek Logistics Partners’s payout ratio is 158.19%.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP (NYSE: DKL) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure. The partnership was formed in 2012 and is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics provides transportation, storage, gathering, terminalling, wholesale marketing and other logistics services for crude oil, refined products and certain intermediate products. Its assets include crude oil gathering systems, pipelines, storage facilities, terminals and truck-transportation operations.