Delek Logistics Partners, L.P. (NYSE:DKL) Stock Has Average Price Target of $55.60 According to Brokerages

Delek Logistics Partners, L.P. (NYSE:DKL) has earned an average rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.60.

DKL has been the topic of a number of analyst reports. Weiss Ratings cut shares of Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 18th. UBS Group raised 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 note on Monday, September 21st. Finally, Zacks Research cut Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd.

Insider Buying and Selling at Delek Logistics Partners

In other news, EVP Reuven Spiegel bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, with a total value of $50,000.00. Following the completion of the acquisition, the executive vice president directly owned 29,549 shares in the company, valued at approximately $1,477,450. This trade represents a 3.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ezra Yemin purchased 6,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $50.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the chairman owned 168,217 shares in the company, valued at $8,410,850. This represents a 3.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 15,000 shares of company stock valued at $750,000. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Delek Logistics Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Holdings LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter valued at $1,703,000. NEOS Investment Management LLC grew its holdings 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 in the last quarter. Alps Advisors Inc. grew its holdings in shares of Delek Logistics Partners by 3.8% during the fourth quarter. Alps Advisors Inc. now owns 4,489,123 shares of the oil and gas producer’s stock valued at $200,305,000 after buying an additional 165,741 shares in the last quarter. Motiv8 Investments LLC acquired a new position in Delek Logistics Partners during the fourth quarter valued at $192,000. Finally, Castellan Group raised its position in Delek Logistics Partners by 7.6% during the first quarter. Castellan Group now owns 91,162 shares of the oil and gas producer’s stock valued at $4,536,000 after buying an additional 6,430 shares during the period. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Price Performance

Shares of DKL opened at $53.83 on Tuesday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 18.76 and a beta of 0.44. The stock has a 50 day moving average of $56.10 and a 200-day moving average of $53.18. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77. Delek Logistics Partners has a 52 week low of $42.35 and a 52 week high of $61.50.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm had revenue of $384.76 million for the quarter, compared to analyst estimates 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, analysts forecast that Delek Logistics Partners will post 3.94 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $1.1350 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 annualized dividend and a dividend yield of 8.4%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 158.19%.

About Delek Logistics Partners

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.