Delek Logistics Partners, L.P. (NYSE:DKL) Receives Consensus Recommendation of “Hold” from Brokerages

Delek Logistics Partners, L.P. (NYSE:DKL) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $55.40.

Several research firms have recently issued reports on DKL. Mizuho boosted their target price 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Delek Logistics Partners in a research note on Thursday, April 30th. Zacks Research upgraded shares of Delek Logistics Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. UBS Group started coverage on shares of Delek Logistics Partners in a research report on Thursday, July 16th. They set a “neutral” rating and a $56.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Delek Logistics Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 12th.

Delek Logistics Partners Trading Down 0.1%

Shares of DKL opened at $56.67 on Monday. Delek Logistics Partners has a fifty-two week low of $41.72 and a fifty-two week high of $61.50. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.65 and a beta of 0.46. The firm has a 50 day moving average price of $53.78 and a 200-day moving average price of $52.37. The company has a debt-to-equity ratio of 386.77, a quick ratio of 0.91 and a current ratio of 0.96.

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 for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.39). The company 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 12.85% and a negative return on equity of 935.80%. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.135 per share. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, August 3rd. Delek Logistics Partners’s payout ratio is 158.19%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Delek Logistics Partners during the second quarter worth about $50,000. Jones Financial Companies Lllp increased its stake in shares of Delek Logistics Partners by 303.3% during the first 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 in the last quarter. State of Wyoming bought a new position in shares of Delek Logistics Partners during the first quarter valued at approximately $67,000. Osaic Holdings Inc. lifted its holdings in shares of Delek Logistics Partners by 245.8% during the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new position in shares of Delek Logistics Partners during the second quarter valued at approximately $206,000. 11.75% of the stock is owned by hedge funds and other 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.