Delek Logistics Partners (NYSE:DKL) Downgraded by StockNews.com

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.

Other analysts also recently issued research reports about the company. Truist Financial began coverage on Delek Logistics Partners in a research note on Friday, April 19th. They issued a buy rating and a $46.00 price objective on the stock. Raymond James raised Delek Logistics Partners from a market perform rating to an outperform rating and set a $45.00 price objective on the stock in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Delek Logistics Partners presently has an average rating of Moderate Buy and a consensus price target of $45.33.

Delek Logistics Partners Trading Down 0.9 %

DKL traded down $0.38 on Friday, hitting $39.70. 127,407 shares of the company’s stock traded hands, compared to its average volume of 92,483. The company’s 50 day simple moving average is $40.46 and its 200-day simple moving average is $44.08. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 13.69 and a beta of 2.07. Delek Logistics Partners has a one year low of $36.50 and a one year high of $58.81.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Tuesday, February 27th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $254.15 million for the quarter, compared to the consensus estimate of $272.51 million. Delek Logistics Partners had a negative return on equity of 102.99% and a net margin of 12.37%. As a group, equities analysts anticipate that Delek Logistics Partners will post 3.48 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be given a dividend of $1.025 per share. The ex-dividend date is Tuesday, May 7th. This represents a $4.10 annualized dividend and a dividend yield of 10.33%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.25. Delek Logistics Partners’s payout ratio is currently 147.59%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of large investors have recently bought and sold shares of the business. Alps Advisors Inc. boosted its holdings in Delek Logistics Partners by 13.1% during the 3rd quarter. Alps Advisors Inc. now owns 1,532,196 shares of the oil and gas producer’s stock valued at $64,306,000 after acquiring an additional 177,242 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Delek Logistics Partners by 205.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after acquiring an additional 997,860 shares during the period. Infrastructure Capital Advisors LLC boosted its holdings in Delek Logistics Partners by 343.5% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 223,208 shares of the oil and gas producer’s stock valued at $9,368,000 after acquiring an additional 172,874 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Delek Logistics Partners during the 1st quarter valued at $3,074,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Delek Logistics Partners during the 1st quarter valued at $1,722,000. 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.