Delek Logistics Partners (NYSE:DKL) Shares Break Below Two Hundred Day Moving Average – Should You Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $53.37 and traded as low as $52.00. Delek Logistics Partners shares last traded at $52.2690, with a volume of 133,159 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DKL shares. 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 report on Monday, September 21st. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Finally, Zacks Research lowered shares of Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.60.

Delek Logistics Partners Trading Down 2.8%

The business’s 50 day moving average price is $55.75 and its 200-day moving average price is $53.37. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 18.21 and a beta of 0.43.

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 (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. The company had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Equities research analysts forecast that Delek Logistics Partners, L.P. will post 3.94 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 8.7%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350. The ex-dividend date is Tuesday, November 3rd. Delek Logistics Partners’s dividend payout ratio is 158.89%.

Insider Buying and Selling at Delek Logistics Partners

In other news, EVP Mark Hobbs purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $50.00 per share, with a total value of $200,000.00. Following the acquisition, the executive vice president owned 24,125 shares in the company, valued at approximately $1,206,250. This trade represents a 19.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Avigal Soreq purchased 2,500 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $50.00 per share, with a total value of $125,000.00. Following the completion of the purchase, the president directly 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 disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 15,000 shares of company stock worth $750,000 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new position in shares of Delek Logistics Partners in the first quarter valued at about $67,000. Avior Wealth Management LLC bought a new position in Delek Logistics Partners during the second quarter worth about $206,000. HB Wealth Management LLC acquired a new stake in Delek Logistics Partners in the 1st quarter worth about $216,000. Gateway Wealth Partners LLC acquired a new stake in Delek Logistics Partners in the 1st quarter worth about $222,000. Finally, Commonwealth Equity Services LLC bought a new stake in Delek Logistics Partners in the 3rd quarter valued at about $225,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners, L.P. (NYSE: DKL) is a master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, refined products and other hydrocarbons. The partnership is sponsored by Delek US Holdings, Inc, an independent refiner and marketer of petroleum products.

Delek Logistics’ operations include crude oil gathering, transportation and storage; refined products transportation and terminalling; wholesale marketing; rail and truck services; and other logistics activities.