Delek Logistics Partners (NYSE:DKL) Hits New 12-Month High – Still a Buy?

Delek Logistics Partners, L.P. (NYSE:DKL) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.02 and last traded at $48.43, with a volume of 21809 shares traded. The stock had previously closed at $47.76.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Delek Logistics Partners in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.50.

Delek Logistics Partners Trading Up 0.9%

The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 130.97. The firm’s 50-day simple moving average is $45.78 and its 200-day simple moving average is $44.87. The firm has a market capitalization of $2.58 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.47.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Friday, November 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.26). The business had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $251.65 million. Delek Logistics Partners had a net margin of 17.00% and a return on equity of 360.64%. Analysts anticipate that Delek Logistics Partners, L.P. will post 3.01 EPS for the current year.

Delek Logistics Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Friday, November 7th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 9.3%. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend was Friday, November 7th. Delek Logistics Partners’s payout ratio is currently 144.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Delek Logistics Partners in the 2nd quarter valued at approximately $50,000. Jones Financial Companies Lllp raised its holdings in Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 910 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Delek Logistics Partners by 92.8% during the third quarter. Farther Finance Advisors LLC now owns 2,285 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 1,100 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Delek Logistics Partners by 245.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after buying an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Delek Logistics Partners by 1,186.5% in the 2nd quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock worth $180,000 after buying an additional 3,868 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.