Delek Logistics Partners (NYSE:DKL) Shares Cross Below 200-Day Moving Average – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $53.52 and traded as low as $52.72. Delek Logistics Partners shares last traded at $53.25, with a volume of 107,636 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on DKL. Citigroup upped their price target on shares of Delek Logistics Partners from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday. Weiss Ratings cut Delek Logistics Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. UBS Group raised their price objective on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Finally, Zacks Research lowered Delek Logistics Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.40.

Delek Logistics Partners Price Performance

The company has a 50 day moving average price of $55.42 and a 200-day moving average price of $53.52. The company has a quick ratio of 0.91, a current ratio of 0.85 and a debt-to-equity ratio of 15.37. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 18.55 and a beta of 0.43.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Friday, November 6th. The oil and gas producer reported $0.85 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.12). Delek Logistics Partners had a return on equity of 1,108.40% and a net margin of 11.90%. The business had revenue of $372.44 million for the quarter, compared to analyst estimates of $355.44 million. As a group, equities research analysts predict that Delek Logistics Partners, L.P. will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Shareholders of record on Tuesday, November 3rd were given a $1.14 dividend. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $1.1350. The ex-dividend date was Tuesday, November 3rd. This represents a $4.56 annualized dividend and a yield of 8.6%. Delek Logistics Partners’s dividend payout ratio is currently 158.89%.

Hedge Funds Weigh In On Delek Logistics Partners

Several large investors have recently modified their holdings of DKL. Alps Advisors Inc. lifted its holdings in shares of Delek Logistics Partners by 28.5% during the third quarter. Alps Advisors Inc. now owns 5,634,862 shares of the oil and gas producer’s stock worth $299,831,000 after purchasing an additional 1,250,721 shares during the period. NEOS Investment Management LLC grew its stake in shares of Delek Logistics Partners by 56.0% in the second quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock worth $8,935,000 after purchasing an additional 62,267 shares during the last quarter. Infrastructure Capital Advisors LLC grew its stake in shares of Delek Logistics Partners by 2.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 156,476 shares of the oil and gas producer’s stock worth $7,786,000 after purchasing an additional 3,596 shares during the last quarter. Adams Asset Advisors LLC increased its holdings in Delek Logistics Partners by 5.2% in the third quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock valued at $3,936,000 after purchasing an additional 3,675 shares during the period. Finally, Pinnacle Holdings LLC acquired a new stake in Delek Logistics Partners in the second quarter valued at $1,703,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners is a midstream energy company that gathers, transports, stores and markets crude oil and refined products. Its services include pipeline and truck transportation, terminaling and storage, and crude oil gathering. The partnership also provides natural gas gathering and processing and produced-water handling services. Formed in 2012 by Delek US Holdings, Delek Logistics was established to own and operate energy infrastructure supporting Delek’s refining and marketing businesses.